UTStarcom Holdings Corp (NASDAQ:UTSI) Sees Significant Growth in Short Interest

UTStarcom Holdings Corp (NASDAQ:UTSI – Get Free Report) saw a significant increase in short interest during the month of June. As of June 30th, there was short interest totaling 71,142 shares, an increase of 13,849.4% from the June 15th total of 510 shares. Based on an average daily trading volume, of 1,836,709 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.8% of the company’s stock are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of UTStarcom in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

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UTStarcom Trading Up 0.8%

Shares of NASDAQ UTSI traded up $0.02 during midday trading on Friday, reaching $2.49. The company had a trading volume of 12,844 shares, compared to its average volume of 161,788. UTStarcom has a 1 year low of $2.00 and a 1 year high of $3.63. The business’s 50-day simple moving average is $2.65 and its 200 day simple moving average is $2.52.

UTStarcom Company Profile

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UTStarcom, Inc (NASDAQ: UTSI) is a global provider of broadband networking and telecommunication solutions. Its product portfolio includes carrier-grade packet optical transport systems, microwave transmission equipment, mobile access radios, small cells and related software platforms. The company serves telecommunications carriers, internet service providers, enterprise networks and government agencies with end-to-end infrastructure designed to support 4G and 5G deployments, fixed broadband access and intelligent connectivity applications.

Founded in 1991, UTStarcom established its reputation in the late 1990s and early 2000s by supplying digital subscriber line access multiplexers (DSLAMs) and broadband routers to operators worldwide.

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