The stock of UTStarcom Holdings Corp. (NASDAQ:UTSI) is now priced at $1.75 and the shares are -0.07 points down or -3.85% lower compared to its previous closing price of $1.82. The stock had 31187 contracts set over the past session. UTSI shares’ daily volume is compared to its average trading volume at 26987 shares. However, it has a float of 10.56 million and although its performance was 1.74% over the week, it’s one to watch. Analysts have given the UTSI stock a yearly average price target of $2.5 per share. It means the stock’s upside potential is 42.86% with the UTSI share price recently placing at $1.72 to $1.8. However, some brokerage firms have priced the stock below the average, including one that has called $2.5.
The shorts are running away from the UTStarcom Holdings Corp. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the UTSI shares have declined. Short interest in the stock represents just 0.15% of its float, but the volume has dropped by -6299. The volume of shorted shares dropped to 15744 from 22043 shares over the last two weeks. The average intraday trading volume has been 16005 shares, which means that days to cover moved to roughly 1.
In the last trading session, UTStarcom Holdings Corp. (NASDAQ:UTSI) raised by $0.03 over the week and lost -$0.14 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $3.1896. The stock recorded its established 52-week high on 07/02/19.
Since 03/31/20, the stock has traded to a low of $1.56 at 12.18%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.06. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, UTStarcom Holdings Corp.’s two-week RSI is 43.99. This suggests that the stock is neutral at the moment and that UTSI shares’ price movement remains stable. The stochastic readings are equally revealing at 25.6% meaning the UTSI share price is currently in overbought territory.
The technical chart shows that the UTSI stock will likely settle at between $1.7933 and $1.8367 per share. However, if the stock dips below $1.7133, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.6767.
Currently, the stock is trading in the green of MACD, with a reading of 0.0528. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned UTSI a rating of Outperform in their intiating review released on August 31. Auriga U.S.A analysts see the stock as a Buy with a target price of $3 in a flash note released to investors on September 17 initiating covering the stock. Jefferies & Co analysts see the stock as Underperform. Nonetheless, the analysts revised the share prices down on February 27, placing it at $0.75 from $1.50.
The average rating for the UTSI equity is 2 and is currently gathering a bullish momentum. Of 1 analysts tracking UTStarcom Holdings Corp. polled by Reuters, 0 rated UTSI as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the UTSI stock’s P/S ratio currently stands at 0below the group’s average of 32.9. UTStarcom Holdings Corp. has its P/E ratio at 0.6, which means that the stock is currently trading at a discount relative to the 3.5 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for UTStarcom Holdings Corp. (NASDAQ:UTSI) will decrease by about -99.93%, which will see them reach $10 million. The company’s full-year revenues are, however, expected to diminish by about -39.23%, down from $65.82 million to $40 million. UTSI’s expected adjusted earnings should drop almost -700% to end up at -$0.06 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 40% to record -$0.14/share.