Short Interest in UTStarcom Holdings Corp. (NASDAQ:UTSI) Drops By 17.6%

UTStarcom Holdings Corp. (NASDAQ:UTSI) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 13,600 shares, a decline of 17.6% from the March 15th total of 16,500 shares. Based on an average daily trading volume, of 3,300 shares, the days-to-cover ratio is currently 4.1 days. Currently, 0.5% of the shares of the stock are sold short.

UTStarcom Price Performance

Shares of UTSI stock opened at $2.70 on Monday. UTStarcom has a 12-month low of $2.40 and a 12-month high of $4.31. The firm has a 50-day moving average price of $2.74 and a 200 day moving average price of $3.16.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on UTStarcom in a report on Monday, April 8th. They set a “sell” rating for the company.

Institutional Inflows and Outflows

An institutional investor recently raised its position in UTStarcom stock. Susquehanna International Group LLP boosted its holdings in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI) by 24.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,061 shares of the Wireless communications provider’s stock after purchasing an additional 2,948 shares during the period. Susquehanna International Group LLP owned 0.16% of UTStarcom worth $61,000 as of its most recent SEC filing. 1.83% of the stock is currently owned by institutional investors.

UTStarcom Company Profile

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.