Shares last traded at $2.33 which is just over the 50 day moving average of $2.13 and which is well above the 200 day moving average of $2.11. The 50 day moving average went up by +9.14% and the 200 day average went up by +10.55%. Trading was light with 45K shares changing hands on Wednesday. Trading volume was down 16.95% under the stocks average daily volume.
Investors are more bullish of late if you put credence in the change in short interest. The firm experienced a fall in short interest of -15.14% between August 15, 2017 and August 31, 2017. Short shares fell from 11,807 to 10,020 over that period. The days to cover decreased to 1.0 and the percentage of shorted shares is 0.00% as of August 31.
Additionally, here are a few investment firms who have increased or decreased their stake in (UTSI). As of the end of the quarter Spark Investment Management LLC had bought a total of 26,200 shares growing its position 116.4%. The value of the company’s investment in UTStarcom Holdings Corp – Ordin went from $44,000 to $113,000 increasing 156.8% quarter to quarter. Citadel Advisors LLC trimmed its stake by shedding 4,887 shares a decrease of 26.4%. Citadel Advisors LLC owns 13,598 shares worth $32,000. The value of the position overall is down by 13.5%.
As of quarter end Renaissance Technologies LLC had acquired 190,201 shares growing its stake by 22.9%. The value of the investment in (UTSI) increased from $1,625,000 to $2,385,000 a change of $760,000 for the reporting period. As of the end of the quarter Morgan Stanley had bought 72,619 shares growing its holdings by 1,748.2%. The value of the total investment in UTStarcom Holdings Corp – Ordin increased from $8,000 to $180,000 a change of 2,150.0% since the last quarter.
The company currently has a P/E ratio of 83.21 and market cap is 82.46M. In the latest earnings report the EPS was $0.03 and is expected to be $-0.01 for the current year with 35,389,000 shares now outstanding. Analysts expect next quarter’s EPS will be $-0.01 and the next full year EPS is anticipated to be $-0.04.
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..