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

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

UTStarcom Price Performance

UTSI opened at $2.85 on Monday. The company has a fifty day moving average price of $2.86 and a two-hundred day moving average price of $2.76. UTStarcom has a 1-year low of $2.20 and a 1-year high of $3.70.

Institutional Investors Weigh In On UTStarcom

A hedge fund recently bought a new stake in UTStarcom stock. Garden State Investment Advisory Services LLC bought a new position in UTStarcom Holdings Corp. (NASDAQ:UTSI) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 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. 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.