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

UTStarcom Holdings Corp. (NASDAQ:UTSI) was the recipient of a significant drop in short interest in 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 short-interest ratio is presently 1.4 days. Currently, 0.2% of the company’s stock are sold short.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on UTStarcom in a report on Wednesday. They issued a “sell” rating on the stock.

UTStarcom Price Performance

UTSI stock traded down $0.05 during mid-day trading on Friday, reaching $2.80. 512 shares of the company traded hands, compared to its average volume of 4,199. The firm’s 50 day moving average price is $2.79 and its 200 day moving average price is $2.74. UTStarcom has a fifty-two week low of $2.20 and a fifty-two 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.