UTStarcom (NASDAQ:UTSI) Director Sells $13,920.00 in Stock

UTStarcom Holdings Corp (NASDAQ:UTSI) Director Sean Shao sold 6,000 shares of the company’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $2.32, for a total transaction of $13,920.00. Following the sale, the director directly owned 13,898 shares of the company’s stock, valued at $32,243.36. This represents a 30.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

UTStarcom Stock Down 1.1%

UTStarcom stock opened at $2.39 on Friday. UTStarcom Holdings Corp has a 52 week low of $1.84 and a 52 week high of $2.94. The company has a 50 day moving average price of $2.45 and a 200 day moving average price of $2.45.

UTStarcom (NASDAQ:UTSI) last issued its earnings results on Tuesday, March 24th. The Wireless communications provider reported ($0.23) earnings per share for the quarter. The company had revenue of $2.17 million for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of UTStarcom in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, UTStarcom currently has an average rating of “Sell”.

UTStarcom Company Profile

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.