Sean Shao Sells 14,533 Shares of UTStarcom (NASDAQ:UTSI) Stock

UTStarcom Holdings Corp (NASDAQ:UTSI) Director Sean Shao sold 14,533 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $2.38, for a total transaction of $34,588.54. Following the sale, the director owned 10,000 shares of the company’s stock, valued at approximately $23,800. This represents a 59.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

UTStarcom Price Performance

Shares of UTStarcom stock opened at $2.32 on Friday. UTStarcom Holdings Corp has a 1 year low of $2.00 and a 1 year high of $3.63. The company’s fifty day moving average is $2.49 and its two-hundred day moving average is $2.52.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of UTStarcom in a report on Tuesday, June 9th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, UTStarcom presently 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.