Renaissance Technologies LLC recently announced the acquisition of new stake in UTStarcom Holdings Corp. (NASDAQ:UTSI). The institutional investor has increased its shareholding in the Technology company by 1.16% to 1.15 million shares with purchase of 13169.0 shares. This fresh investment now brings its stake to 3.21% valued currently at $1.83 million. In addition, Northern Trust Investments, Inc.(.. raised its holdings by 358.0 to 22052.0 shares.
With over 37.92 million UTStarcom Holdings Corp. (UTSI) shares trading Monday and a closing price of $1.50 on the day, the dollar volume was approximately $56.87 million. The shares have shown a positive weekly performance of 0.67% and its price on 08/31/20 gained nearly 8.70%. Currently, there are 35.60M common shares owned by the public and among those 10.56M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for UTSI have a consensus price objective of $2.50. The analysts have set the share’s price value over the next 12 months at a high of $2.50 and a low of $2.50 should the stock experience a downside. But an upside of 40.0% will see the stock hit the forecast high price target while mean target price for the stock is $2.50.
Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in UTStarcom Holdings Corp. are ZCap2 SA de CV SIRV, ZCap3 SA de CV SIRV, and Fidelity Nasdaq Composite Index F. ZCap2 SA de CV SIRV owns 0.57 million shares of the company’s stock, all valued at over $0.91 million. The company sold 15363.0 shares recently to bring their total holdings to about 1.59% of the shares outstanding. ZCap3 SA de CV SIRV sold 28902.0 shares to see its total holdings shrink to 0.34 million shares valued at over $0.54 million and representing 0.95% of the shares outstanding. Fidelity Nasdaq Composite Index F now owns shares totaling to 0.06% of the shares outstanding.
Shares of UTStarcom Holdings Corp. (NASDAQ: UTSI) opened at $1.795, up $0.42 from a prior closing price of $1.38. However, the script later closed the day at $1.50, up 8.70%. The company’s stock has a 5-day price change of 0.67% and -20.63% over the past three months. UTSI shares are trading -49.15% year to date (YTD), with the 12-month market performance down to -48.28% lower. It has a 12-month low price of $1.32 and touched a high of $3.09 over the same period. Currently, 37.92 million shares have been traded, compared to an average intraday trading volume of 37.35K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.81%, -9.33%, and -32.03% respectively.
Institutional ownership of UTStarcom Holdings Corp. (NASDAQ: UTSI) shares accounts for 3.60% of the company’s 35.60M shares outstanding. Mutual fund holders own 22.09%, while other institutional holders and individual stakeholders account for 3.50% and 2.64% respectively.
It has a market capitalization of $55.88M and a beta (3y monthly) value of 0.98. The earnings-per-share (ttm) stands at -$0.11. Price movements for the stock have been influenced by the stock’s volatility, which stands at 18.77% over the week and 7.64% over the month.
Analysts forecast that UTStarcom Holdings Corp. (UTSI) will achieve an EPS of -$0.06 for the current quarter, -$0.03 for the next quarter and $0 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.06 while analysts give the company a high EPS estimate of -$0.06. Comparatively, EPS for the current quarter was $0.01 a year ago. EPS should shrink at an annualized rate of 22.00% over the next five years, compared to 32.90% over the past 5-year period.
Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the UTSI, a number of firms have released research notes about the stock. Northland Capital stated their Outperform rating for the stock in a research note on August 31, 2015, with the firm’s price target at $2.50. Auriga U.S.A coverage for the UTStarcom Holdings Corp. (UTSI) stock in a research note released on September 17, 2010 offered a Buy rating with a price target of $3. Jefferies & Co was of a view on February 27, 2009 that the stock is Underperform, while BWS Financial gave the stock Hold rating on February 27, 2009, issuing a price target of. BWS Financial on their part issued Buy rating on September 18, 2008.