UTStarcom Holdings Corp. (UTSI) Sees Large Volume Increase
UTStarcom Holdings Corp. (NASDAQ:UTSI) saw an uptick in trading volume on Thursday . 165,260 shares traded hands during trading, an increase of 224% from the previous session’s volume of 51,032 shares.The stock last traded at $2.10 and had previously closed at $2.07.
Separately, Zacks Investment Research raised shares of UTStarcom Holdings Corp. from a “hold” rating to a “strong-buy” rating and set a $2.50 target price for the company in a research note on Friday.
The company has a 50 day moving average price of $1.94 and a 200-day moving average price of $2.00. The company’s market capitalization is $75.40 million.
UTStarcom Holdings Corp. (NASDAQ:UTSI) last posted its earnings results on Friday, August 12th. The company reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.23. During the same period last year, the business earned ($0.02) earnings per share. The company earned $20 million during the quarter, compared to analysts’ expectations of $20 million. Equities analysts forecast that UTStarcom Holdings Corp. will post $0.01 EPS for the current fiscal year.
UTStarcom Holdings Corp. is engaged in providing broadband products, solution and services. The Company is a global telecom infrastructure provider, which is focused on delivering broadband transport and access (both Wi-Fi and fixed line) products and solutions, optimized for mobile backhaul, metro aggregation, broadband access and Wi-Fi data offloading.
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