UTStarcom Holdings Corp (NASDAQ:UTSI) Short Interest Down 10.7% in July

UTStarcom Holdings Corp (NASDAQ:UTSI) saw a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 22,500 shares, a drop of 10.7% from the June 30th total of 25,200 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 16,500 shares, the days-to-cover ratio is currently 1.4 days.

Shares of UTStarcom stock traded down $0.10 during trading hours on Wednesday, reaching $2.78. The company’s stock had a trading volume of 14,947 shares, compared to its average volume of 17,853. The business’s 50 day moving average price is $3.02. The company has a current ratio of 2.12, a quick ratio of 1.96 and a debt-to-equity ratio of 0.02. UTStarcom has a one year low of $2.59 and a one year high of $4.11. The stock has a market capitalization of $98.90 million, a PE ratio of 19.83 and a beta of 0.85.

UTStarcom (NASDAQ:UTSI) last posted its quarterly earnings results on Tuesday, August 13th. The Wireless communications provider reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.14. UTStarcom had a net margin of 1.25% and a return on equity of 1.45%. The company had revenue of $13.91 million for the quarter, compared to the consensus estimate of $15.00 million. During the same period last year, the firm posted $0.01 EPS. Analysts expect that UTStarcom will post -0.1 EPS for the current year.

A number of research analysts have recently issued reports on UTSI shares. TheStreet downgraded shares of UTStarcom from a “c+” rating to a “d+” rating in a research report on Wednesday, May 15th. Zacks Investment Research downgraded shares of UTStarcom from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, ValuEngine upgraded shares of UTStarcom from a “hold” rating to a “buy” rating in a research report on Friday, July 12th.

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 worldwide. The company helps network operators to offer communication services for its customers. Its products line include various platforms that leverage its expertise in packet optical communications, routing and switching technologies, broadband access, wireless communications, and synchronization.

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