Insider Selling: UTStarcom (NASDAQ:UTSI) Director Sells $34,588.54 in Stock

UTStarcom Holdings Corp (NASDAQ:UTSI) Director Sean Shao sold 14,533 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $2.38, for a total value of $34,588.54. Following the completion of the transaction, the director directly owned 10,000 shares of the company’s stock, valued at $23,800. This trade represents a 59.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

UTStarcom Trading Down 3.7%

Shares of UTStarcom stock opened at $2.32 on Friday. UTStarcom Holdings Corp has a 52 week low of $2.00 and a 52 week high of $3.63. The firm’s 50 day moving average is $2.49 and its two-hundred day moving average is $2.52.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of UTStarcom in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

About UTStarcom

UTStarcom, Inc (NASDAQ: UTSI) is a global provider of broadband networking and telecommunication solutions. Its product portfolio includes carrier-grade packet optical transport systems, microwave transmission equipment, mobile access radios, small cells and related software platforms. The company serves telecommunications carriers, internet service providers, enterprise networks and government agencies with end-to-end infrastructure designed to support 4G and 5G deployments, fixed broadband access and intelligent connectivity applications.

Founded in 1991, UTStarcom established its reputation in the late 1990s and early 2000s by supplying digital subscriber line access multiplexers (DSLAMs) and broadband routers to operators worldwide.