UTStarcom (NASDAQ:UTSI) Director Sean Shao Sells 6,000 Shares of Stock

UTStarcom Holdings Corp (NASDAQ:UTSI) Director Sean Shao sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $2.32, for a total value of $13,920.00. Following the sale, the director owned 13,898 shares in the company, valued at approximately $32,243.36. This represents a 30.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

UTStarcom Stock Down 1.1%

Shares of UTSI stock opened at $2.39 on Friday. UTStarcom Holdings Corp has a one year low of $1.84 and a one year high of $2.94. The stock has a fifty day moving average price of $2.45 and a 200 day moving average price of $2.45.

UTStarcom (NASDAQ:UTSI) last announced its quarterly earnings results on Tuesday, March 24th. The Wireless communications provider reported ($0.23) earnings per share (EPS) for the quarter. The business had revenue of $2.17 million for the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of UTStarcom in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, UTStarcom has an average rating of “Sell”.

UTStarcom Company Profile

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.