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

UTStarcom Holdings Corp. (NASDAQ:UTSI) was the target of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 14,600 shares, an increase of 231.8% from the October 31st total of 4,400 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average trading volume of 6,200 shares, the short-interest ratio is currently 2.4 days.

Institutional Trading of UTStarcom

An institutional investor recently bought a new position in UTStarcom stock. Garden State Investment Advisory Services LLC bought a new stake in UTStarcom Holdings Corp. (NASDAQ:UTSI) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 256,341 shares of the Wireless communications provider’s stock, valued at approximately $795,000. Garden State Investment Advisory Services LLC owned approximately 2.72% of UTStarcom at the end of the most recent quarter. 1.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of UTStarcom in a research note on Tuesday. They set a “sell” rating for the company.

UTStarcom Stock Down 0.3 %

Shares of NASDAQ UTSI traded down $0.01 during mid-day trading on Friday, hitting $2.99. The company had a trading volume of 367 shares, compared to its average volume of 4,305. UTStarcom has a 12 month low of $2.20 and a 12 month high of $3.66. The business’s 50-day simple moving average is $2.87 and its 200-day simple moving average is $2.78.

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.