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

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

UTStarcom Price Performance

UTStarcom stock opened at $2.43 on Friday. UTStarcom has a fifty-two week low of $2.20 and a fifty-two week high of $3.54. The stock’s fifty day moving average is $2.79 and its two-hundred day moving average is $2.76.

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 Form 13F filing with the Securities and Exchange Commission. The firm 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 reporting period. 1.83% of the stock is owned by hedge funds and other institutional investors.

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.