UTStarcom Holdings Corp. (NASDAQ:UTSI) Short Interest Update

UTStarcom Holdings Corp. (NASDAQ:UTSI) was the recipient of a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 5,600 shares, a decrease of 39.8% from the February 13th total of 9,300 shares. Based on an average daily volume of 4,900 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.2% of the shares of the company are short sold.

UTStarcom Stock Down 2.8 %

UTStarcom stock opened at $2.41 on Monday. UTStarcom has a twelve month low of $2.20 and a twelve month high of $3.22. The stock has a 50 day moving average of $2.64 and a two-hundred day moving average of $2.74.

Institutional Trading of UTStarcom

A hedge fund recently bought a new stake in UTStarcom stock. Garden State Investment Advisory Services LLC purchased a new stake in UTStarcom Holdings Corp. (NASDAQ:UTSI) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 256,341 shares of the Wireless communications provider’s stock, valued at approximately $795,000. Garden State Investment Advisory Services LLC owned 2.72% of UTStarcom at the end of the most recent reporting period. 1.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on UTStarcom in a research report on Monday, March 10th. They set a “sell” rating for the company.

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.