UTStarcom Holdings Corp. (NASDAQ:UTSI) Short Interest Up 122.9% in December

Posted by Trevor Kearing on Jan 14th, 2025

UTStarcom Holdings Corp. (NASDAQ:UTSI – Get Free Report) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 7,800 shares, an increase of 122.9% from the December 15th total of 3,500 shares. Based on an average trading volume of 5,900 shares, the days-to-cover ratio is presently 1.3 days. Currently, 0.2% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on UTStarcom in a research note on Monday. They issued a “sell” rating on the stock.

Check Out Our Latest Analysis on UTSI

UTStarcom Price Performance

NASDAQ UTSI opened at $2.75 on Tuesday. The business’s 50 day moving average price is $2.74 and its 200-day moving average price is $2.78. UTStarcom has a fifty-two week low of $2.20 and a fifty-two week high of $3.30.

Hedge Funds Weigh In On UTStarcom

A hedge fund recently bought a new stake in UTStarcom stock. Garden State Investment Advisory Services LLC bought a new stake in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI – Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 256,341 shares of the Wireless communications provider’s stock, valued at approximately $795,000. Garden State Investment Advisory Services LLC owned about 2.72% of UTStarcom as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 1.83% of the company’s stock.

UTStarcom Company Profile

(Get Free Report)

UTStarcom Holdings Corp. operates as a telecom infrastructure provider to develop technology for bandwidth from cloud-based services, mobile, streaming, and other applications in China, India, Japan, and internationally. Its products include converged packet transport, disaggregated router platform, packet transport network, packet aggregation network, multi-services access network, fiber to the X, carrier Wi-Fi solutions, and software defined network controller products.