The trading price of UTStarcom Holdings Corp. (NASDAQ:UTSI) closed higher on Tuesday, Jan 12, closing at $1.63, 14.72% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $1.7000 and $1.9000. The company’s P/E ratio in the trailing 12-month period was 0, while its 5Y monthly beta was 1.43. In examining the 52-week price action we see that the stock hit a 52-week high of $2.95 and a 52-week low of $0.82. Over the past month, the stock has gained 10.65% in value.
Analysts have forecast the company to bring in revenue of $10Million for the quarter, with the likely lows of $10Million and highs of $10Million. The average estimate suggests sales will likely down by -59.4% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2021 is $40Million. The company’s revenue is forecast to drop by -39.2% over what it did in 2020.
On the technical side, indicators suggest UTSI has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a Hold, while an average of long term indicators suggests that the stock is currently 50% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned UTSI a recommendation rating is 1. Out of them, no one rate it a Hold, while 1 recommend Buy, whereas none assign an Outperform rating. None analyst(s) have tagged UTStarcom Holdings Corp. (UTSI) as Underperform, while not any of them advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 0, which symbolizes a positive outlook. A quick review shows that UTSI’s price is currently 30.52% off the SMA20 and 56.6% off the SMA50. The RSI metric on the 14-day chart is currently showing 74.14, and weekly volatility stands at 7.87%. When measured over the past 30 days, the indicator reaches 9.32%. UTStarcom Holdings Corp. (NASDAQ:UTSI)’s beta value is currently sitting at 1.43, while the Average True Range indicator is currently displaying 0.16. With analysts defining $2.5-$2.5 as the low and high price targets, we arrive at a consensus price target of $2.5 for the trailing 12-month period. The current price is about 33.69% off the estimated low and 33.69% off the forecast high, based on this estimate. Investors will be thrilled if UTSI’s share price rises to $2.5, which is the median consensus price. At that level, UTSI’s share price would be +33.69% above current price.
To see how UTStarcom Holdings Corp. stock has been performing in comparison to its peers in the industry, here are the numbers: UTSI stock’s performance was +14.72% in the latest trading, and -35.76% in the past year, while Corning Inc (GLW) has traded -0.21% on the day and positioned +23.22% higher than it was a year ago. Another comparable company Arista Networks Inc (ANET) saw its stock close 4.4% higher in the most recent trading session but was up +49.79% in a year. Furthermore, Altice USA Inc Cl A (ATUS) showed an increase of 14.72% on the day while its price kept declining at -35.76% over the past year. UTStarcom Holdings Corp. has a P/E ratio of 0, compared to Corning Inc’s 181.84 and Arista Networks Inc’s 35.42. Also in last trading session, the S&P 500 Index has surged 0.04%, while the Dow Jones Industrial also saw a positive session, up +0.19% on the day.
An evaluation of the daily trading volume of UTStarcom Holdings Corp. (NASDAQ:UTSI) indicates that the 3-month average is 848.53 Million. However, this figure has declined over the past 10 days to an average of 223.78 Million.
Currently, records show that 35.62 Million of the company’s shares remain outstanding. According to Thomson Reuters data, insiders hold 70.6% of outstanding shares, whereas institutions hold 3.83%. The stats also highlight that short interest as of December 14, 2020, stood at 666.39 Million shares, resulting in a short ratio of 0.37 at that time. From this, we can conclude that short interest is 1.85% of the company’s total outstanding shares. It is noteworthy that short shares in December were up slightly from the previous month’s figure, which was 105.68 Million. However, since the stock’s price has seen +35.51% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
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