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

UTStarcom Holdings Corp. (NASDAQ:UTSI) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 7,800 shares, an increase of 122.9% from the December 15th total of 3,500 shares. Based on an average trading volume of 5,900 shares, the short-interest ratio is currently 1.3 days. Approximately 0.2% of the company’s stock are sold short.

UTStarcom Stock Performance

UTStarcom stock remained flat at $2.74 during midday trading on Thursday. The company had a trading volume of 254 shares, compared to its average volume of 3,954. UTStarcom has a 1-year low of $2.20 and a 1-year high of $3.30. The company’s fifty day moving average is $2.74 and its two-hundred day moving average is $2.78.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on UTStarcom in a report on Monday. They set a “sell” rating for the company.

Institutional Trading of UTStarcom

A hedge fund recently bought a new stake in UTStarcom stock. Garden State Investment Advisory Services LLC purchased a new stake in UTStarcom Holdings Corp. (NASDAQ:UTSI) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 256,341 shares of the Wireless communications provider’s stock, valued at approximately $795,000. Garden State Investment Advisory Services LLC owned about 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.

About UTStarcom

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.