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

StockNews.com initiated coverage on shares of UTStarcom (NASDAQ:UTSI) in a research report report published on Wednesday. The firm issued a sell rating on the Wireless communications provider’s stock.

UTStarcom Trading Down 7.2 %

UTStarcom stock opened at $2.56 on Wednesday. UTStarcom has a fifty-two week low of $2.20 and a fifty-two week high of $3.60. The firm has a 50 day moving average price of $2.86 and a 200 day moving average price of $2.78.

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 3rd quarter, according to its most recent disclosure with the SEC. 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 about 2.72% of UTStarcom at the end of the most recent quarter. Hedge funds and other institutional investors own 1.83% of the company’s stock.

UTStarcom Company Profile

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.