UTStarcom Holdings Corp (NASDAQ:UTSI) Short Interest Down 96.5% in June

UTStarcom Holdings Corp (NASDAQ:UTSI) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 510 shares, a drop of 96.5% from the May 31st total of 14,689 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 5,432 shares, the days-to-cover ratio is currently 0.1 days.

UTStarcom Stock Performance

UTSI stock traded down $0.10 during trading on Thursday, reaching $2.25. The stock had a trading volume of 67,431 shares, compared to its average volume of 173,577. The firm has a fifty day moving average price of $2.67 and a 200 day moving average price of $2.52. UTStarcom has a 1-year low of $2.00 and a 1-year high of $3.63.

UTStarcom (NASDAQ:UTSI) last announced its earnings results on Tuesday, March 24th. The Wireless communications provider reported ($0.23) earnings per share (EPS) for the quarter. The firm had revenue of $2.17 million during the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of UTStarcom in a report on Tuesday, June 9th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

UTStarcom Company Profile

UTStarcom, Inc (NASDAQ: UTSI) is a global provider of broadband networking and telecommunication solutions. Its product portfolio includes carrier-grade packet optical transport systems, microwave transmission equipment, mobile access radios, small cells and related software platforms. The company serves telecommunications carriers, internet service providers, enterprise networks and government agencies with end-to-end infrastructure designed to support 4G and 5G deployments, fixed broadband access and intelligent connectivity applications.

Founded in 1991, UTStarcom established its reputation in the late 1990s and early 2000s by supplying digital subscriber line access multiplexers (DSLAMs) and broadband routers to operators worldwide.