Short Interest in UTStarcom Holdings Corp. (NASDAQ:UTSI) Grows By 231.8%

UTStarcom Holdings Corp. (NASDAQ:UTSI) saw a significant growth in short interest in November. As of November 15th, there was short interest totalling 14,600 shares, a growth of 231.8% from the October 31st total of 4,400 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average daily trading volume, of 6,200 shares, the days-to-cover ratio is currently 2.4 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in UTStarcom stock. Garden State Investment Advisory Services LLC bought a new stake in UTStarcom Holdings Corp. (NASDAQ:UTSI) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 256,341 shares of the Wireless communications provider’s stock, valued at approximately $795,000. Garden State Investment Advisory Services LLC owned 2.72% of UTStarcom as of its most recent SEC filing. 1.83% of the stock is owned by institutional investors.

UTStarcom Stock Up 1.0 %

Shares of NASDAQ UTSI opened at $3.00 on Thursday. The business has a fifty day moving average price of $2.86 and a two-hundred day moving average price of $2.78. UTStarcom has a fifty-two week low of $2.20 and a fifty-two week high of $3.70.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of UTStarcom in a report on Tuesday. They set a “sell” rating on the stock.

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.