UTStarcom Holdings Corp. (NASDAQ:UTSI) Short Interest Down 32.1% in February

UTStarcom Holdings Corp. (NASDAQ:UTSI) saw a significant drop in short interest in February. As of February 15th, there was short interest totalling 9,300 shares, a drop of 32.1% from the January 31st total of 13,700 shares. Based on an average daily trading volume, of 5,500 shares, the days-to-cover ratio is currently 1.7 days. Approximately 0.3% of the shares of the company are sold short.

UTStarcom Stock Up 5.2 %

UTSI stock opened at $2.53 on Tuesday. The business has a 50-day simple moving average of $2.70 and a 200 day simple moving average of $2.77. UTStarcom has a 52 week low of $2.20 and a 52 week high of $3.22.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in UTStarcom stock. Garden State Investment Advisory Services LLC bought a new position in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 256,341 shares of the Wireless communications provider’s stock, valued at approximately $795,000. Garden State Investment Advisory Services LLC owned approximately 2.72% of UTStarcom at the end of the most recent quarter. 1.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on UTStarcom in a research note on Sunday. They issued a “sell” rating for the company.

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.