UTStarcom (NASDAQ:UTSI) Director Sells $34,588.54 in Stock

UTStarcom Holdings Corp (NASDAQ:UTSI) Director Sean Shao sold 14,533 shares of the firm’s stock in a transaction on 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 transaction, the director owned 10,000 shares in the company, valued at $23,800. The trade was a 59.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

UTStarcom Price Performance

UTStarcom stock opened at $2.35 on Monday. UTStarcom Holdings Corp has a 52-week low of $2.00 and a 52-week high of $3.63. The company has a fifty day simple moving average of $2.48 and a 200-day simple moving average of $2.52.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of UTStarcom in a research note on Tuesday, June 9th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

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.