UTStarcom (NASDAQ:UTSI) Now Covered by StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of UTStarcom (NASDAQ:UTSI) in a note issued to investors on Saturday. The brokerage set a “sell” rating on the Wireless communications provider’s stock.

UTStarcom Price Performance

NASDAQ UTSI opened at $2.80 on Friday. UTStarcom has a 52-week low of $2.20 and a 52-week high of $3.44. The business’s 50-day moving average price is $2.76 and its 200 day moving average price is $2.77.

Institutional Investors Weigh In On UTStarcom

An institutional investor recently bought a new position in UTStarcom stock. Garden State Investment Advisory Services LLC acquired a new stake in UTStarcom Holdings Corp. (NASDAQ:UTSI) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 256,341 shares of the Wireless communications provider’s stock, valued at approximately $795,000. Garden State Investment Advisory Services LLC owned approximately 2.72% of UTStarcom at the end of the most recent quarter. Institutional investors own 1.83% of the company’s stock.

About UTStarcom

UTStarcom Holdings Corp. operates as a telecom infrastructure provider to develop technology for bandwidth from cloud-based services, mobile, streaming, and other applications in China, India, Japan, and internationally. Its products include converged packet transport, disaggregated router platform, packet transport network, packet aggregation network, multi-services access network, fiber to the X, carrier Wi-Fi solutions, and software defined network controller products.