Shares are trading at $3.16 which is quite a bit higher than $2.54, the stock’s 50 day moving average and which is impressively higher than the 200 day moving average of $2.25. The 50 day moving average went up by +24.49% and the 200 day average was up $0.91. Trading volume for UTStarcom Holdings Corp – Ordin was 6,068 on Tuesday. Volume was down 88.71% under the stocks average daily volume.
Traders are a little more bullish on shares of the company lately as shown by the change in short interest. The stock saw a fall in short interest of -8.74% as of the latest report on September 29, 2017. Short interest decreased from 84,464 to 77,080 over that timeframe. Days to cover increased 1.0 to 2.0 and the percentage of shorted shares is 0.00% as of September 29.
These firms have modified their investment in UTSI. Morgan Stanley grew its ownership by buying 72,619 shares an increase of 1,748.2% from 03/31/2017 to 06/30/2017. Morgan Stanley now controls 76,773 shares valued at $180,000. The value of the position overall is up by 2,150.0%. Renaissance Technologies LLC augmented its position by buying 190,201 shares an increase of 22.9% in the quarter. Renaissance Technologies LLC controls 1,019,398 shares worth $2,385,000. The total value of its holdings increased 46.8%.
Citadel Advisors LLC downsized its investment by shedding 4,887 shares a decrease of 26.4%. Citadel Advisors LLC owns 13,598 shares with a value of $32,000. The total value of its holdings decreased 13.5%. As of quarter end Spark Investment Management LLC had acquired 26,200 shares growing its stake by 116.4%. The value in dollars went from $44,000 to $113,000 increasing 156.8% since the last quarter.
The company currently has a P/E ratio of 20.00 and market cap is 111.93M.
UTStarcom Holdings Corp., incorporated in April 1, 2011, is involved in providing broadband products, solution and services. The Company is a global telecom infrastructure provider, and is focused on delivering broadband transport and access (both wireless fidelity (Wi-Fi) and fixed line) products and solutions, optimized for mobile backhaul, metro aggregation, broadband access and Wi-Fi data offloading. Its segments include Equipment and Services. The broadband product lines include family of packet transport network (PTN) products based on multi-protocol label switch transport profile (MPLS-TP) and carrier Ethernet (CE) technologies enhanced through in-house software-defined networking (SDN) platform to support the network evolution, and multi services access network (MSAN) platform. Wireless broadband access is represented by end-to-end Carrier Wi-Fi solution..