Short Interest in UTStarcom Holdings Corp. (NASDAQ:UTSI) Increases By 86.7%

UTStarcom Holdings Corp. (NASDAQ:UTSI – Get Rating) was the recipient of a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 11,200 shares, an increase of 86.7% from the April 30th total of 6,000 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 18,200 shares, the days-to-cover ratio is presently 0.6 days.

Shares of UTSI stock opened at $0.61 on Friday. The stock has a 50 day moving average of $0.73 and a two-hundred day moving average of $0.86. UTStarcom has a 12 month low of $0.61 and a 12 month high of $2.00.

Separately, StockNews.com assumed coverage on UTStarcom in a research report on Saturday, May 21st. They issued a “sell” rating for the company.

An institutional investor recently bought a new position in UTStarcom stock. Millennium Management LLC acquired a new position in UTStarcom Holdings Corp. (NASDAQ:UTSI – Get Rating) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 53,985 shares of the Wireless communications provider’s stock, valued at approximately $62,000. Millennium Management LLC owned 0.15% of UTStarcom at the end of the most recent quarter. Institutional investors and hedge funds own 3.72% of the company’s stock.

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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