UTStarcom Holdings Corp. (NASDAQ:UTSI) Short Interest Down 45.4% in September

UTStarcom Holdings Corp. (NASDAQ:UTSI) was the target of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 7,700 shares, a drop of 45.4% from the September 15th total of 14,100 shares. Based on an average trading volume of 5,600 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.2% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on UTStarcom in a research report on Wednesday. They issued a “sell” rating for the company.

UTStarcom Price Performance

UTStarcom stock traded down $0.08 during trading hours on Friday, reaching $2.77. The stock had a trading volume of 1,259 shares, compared to its average volume of 4,780. The company has a fifty day simple moving average of $2.80 and a 200-day simple moving average of $2.74. UTStarcom has a 52 week low of $2.20 and a 52 week high of $3.75.

About UTStarcom

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.