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

UTStarcom Holdings Corp. (NASDAQ:UTSIGet Rating) was the recipient of a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 11,200 shares, a growth of 86.7% from the April 30th total of 6,000 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 18,200 shares, the short-interest ratio is currently 0.6 days.

Shares of UTSI stock opened at $0.61 on Friday. UTStarcom has a fifty-two week low of $0.61 and a fifty-two week high of $2.00. The stock’s 50-day moving average is $0.73 and its two-hundred day moving average is $0.86.

A hedge fund recently bought a new stake in UTStarcom stock. Millennium Management LLC acquired a new stake in shares of UTStarcom Holdings Corp. (NASDAQ:UTSIGet Rating) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 53,985 shares of the Wireless communications provider’s stock, valued at approximately $62,000. Millennium Management LLC owned about 0.15% of UTStarcom as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 3.72% of the company’s stock.

Separately, started coverage on UTStarcom in a research report on Saturday, May 21st. They issued a “sell” rating on the stock.

About UTStarcom (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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