UTStarcom Holdings Corp (NASDAQ:UTSI) was the recipient of a large increase in short interest in October. As of October 31st, there was short interest totalling 44,100 shares, an increase of 98.6% from the September 30th total of 22,200 shares. Based on an average trading volume of 12,900 shares, the short-interest ratio is currently 3.4 days. Approximately 0.4% of the company’s stock are sold short.
Several equities research analysts recently issued reports on the company. TheStreet raised UTStarcom from a “d+” rating to a “c” rating in a research note on Friday, August 16th. Zacks Investment Research raised UTStarcom from a “hold” rating to a “strong-buy” rating and set a $3.25 price objective for the company in a research note on Thursday, August 22nd.
UTStarcom stock traded down $0.09 during mid-day trading on Monday, hitting $2.87. The company’s stock had a trading volume of 21,800 shares, compared to its average volume of 16,146. The firm’s 50 day moving average is $2.98 and its 200 day moving average is $3.05. The company has a market cap of $107.38 million, a PE ratio of 20.50 and a beta of 0.89. UTStarcom has a 52-week low of $2.43 and a 52-week high of $4.11.
UTStarcom (NASDAQ:UTSI) last posted its quarterly earnings results on Friday, November 8th. The Wireless communications provider reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.01). UTStarcom had a return on equity of 3.20% and a net margin of 3.17%. The firm had revenue of $13.08 million for the quarter, compared to analysts’ expectations of $15.00 million. During the same period last year, the business earned $0.30 earnings per share. As a group, equities analysts forecast that UTStarcom will post -0.06 earnings per share for the current fiscal year.
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 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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