UTStarcom (NASDAQ:UTSI) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of UTStarcom (NASDAQ:UTSI) in a research note released on Sunday morning. The brokerage issued a sell rating on the Wireless communications provider’s stock.

UTStarcom Stock Performance

Shares of NASDAQ:UTSI opened at $2.74 on Friday. UTStarcom has a 12-month low of $2.20 and a 12-month high of $3.40. The business has a 50 day moving average of $2.75 and a 200-day moving average of $2.78.

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 position in UTStarcom Holdings Corp. (NASDAQ:UTSI) in the 3rd quarter, according to the company in its most recent filing 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 as of its most recent SEC filing. 1.83% of the stock is currently owned by hedge funds and other institutional investors.

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.