StockNews.com Initiates Coverage on UTStarcom (NASDAQ:UTSI)

StockNews.com began coverage on shares of UTStarcom (NASDAQ:UTSI) in a research report issued to clients and investors on Tuesday. The brokerage set a “sell” rating on the Wireless communications provider’s stock.

UTStarcom Trading Up 1.0 %

NASDAQ UTSI opened at $3.00 on Tuesday. The business’s 50-day moving average price is $2.86 and its 200 day moving average price is $2.78. UTStarcom has a twelve month low of $2.20 and a twelve month high of $3.70.

Hedge Funds 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 shares of UTStarcom Holdings Corp. (NASDAQ:UTSI) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 256,341 shares of the Wireless communications provider’s stock, valued at approximately $795,000. Garden State Investment Advisory Services LLC owned about 2.72% of UTStarcom as of its most recent SEC filing. 1.83% of the stock is owned by 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.