StockNews.com assumed coverage on shares of UTStarcom (NASDAQ:UTSI – Free Report) in a report released on Friday. The firm issued a sell rating on the Wireless communications provider’s stock.
UTStarcom Stock Performance
Shares of UTSI stock opened at $2.55 on Friday. UTStarcom has a twelve month low of $2.20 and a twelve month high of $3.30. The stock’s fifty day simple moving average is $2.72 and its 200 day simple moving average is $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 purchased a new stake in UTStarcom Holdings Corp. (NASDAQ:UTSI – Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 256,341 shares of the Wireless communications provider’s stock, valued at approximately $795,000. Garden State Investment Advisory Services LLC owned 2.72% of UTStarcom at the end of the most recent quarter. 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.
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