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

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

UTStarcom Stock Down 2.8 %

NASDAQ:UTSI opened at $2.41 on Friday. UTStarcom has a fifty-two week low of $2.20 and a fifty-two week high of $3.22. The stock’s 50-day moving average is $2.64 and its two-hundred day moving average is $2.74.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in UTStarcom stock. Garden State Investment Advisory Services LLC bought a new stake in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 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 as of its most recent SEC filing. 1.83% of the stock is owned by hedge funds and other institutional investors.

UTStarcom Company Profile

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.