UTStarcom Holdings Corp (NASDAQ:UTSI) Short Interest Update

UTStarcom Holdings Corp (NASDAQ:UTSI) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totaling 8,315 shares, a decrease of 50.6% from the August 15th total of 16,832 shares. Based on an average daily volume of 7,117 shares, the short-interest ratio is presently 1.2 days. Currently, 0.1% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of UTStarcom in a report on Friday, September 4th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, UTStarcom has a consensus rating of “Sell”.

Insider Transactions at UTStarcom

In other news, Director Sean Shao sold 14,533 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $2.38, for a total value of $34,588.54. Following the completion of the sale, the director owned 10,000 shares in the company, valued at approximately $23,800. This trade represents a 59.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is currently owned by corporate insiders.

UTStarcom Stock Up 0.2%

UTSI stock traded up $0.01 during trading on Tuesday, hitting $2.27. 2,567 shares of the company traded hands, compared to its average volume of 122,461. The stock’s 50-day simple moving average is $2.42 and its 200 day simple moving average is $2.50. UTStarcom has a 1 year low of $2.00 and a 1 year high of $3.63.

About UTStarcom

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.