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

UTStarcom Holdings Corp. (NASDAQ:UTSIGet Rating) was the target of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 5,400 shares, a decrease of 55.7% from the March 31st total of 12,200 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average trading volume of 20,500 shares, the short-interest ratio is presently 0.3 days.

An institutional investor recently bought a new position in UTStarcom stock. Millennium Management LLC bought a new position in shares of UTStarcom Holdings Corp. (NASDAQ:UTSIGet Rating) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 53,985 shares of the Wireless communications provider’s stock, valued at approximately $62,000. Millennium Management LLC owned approximately 0.15% of UTStarcom as of its most recent SEC filing. Institutional investors and hedge funds own 4.02% of the company’s stock.

Shares of UTStarcom stock opened at $0.79 on Friday. The firm has a 50-day simple moving average of $0.78 and a two-hundred day simple moving average of $0.92. UTStarcom has a fifty-two week low of $0.68 and a fifty-two week high of $2.00.

Separately, StockNews.com started coverage on shares of UTStarcom in a research report on Wednesday. They issued a “sell” rating for the company.

UTStarcom Company Profile (Get Rating)

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, Taiwan, and internationally. The company's products include packet transport network, packet aggregation network, multi-services access network, fiber to the X, carrier Wi-Fi solutions, and software defined network controller products, as well as smart retail products.

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