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

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

UTStarcom Trading Up 2.3 %

UTSI opened at $2.47 on Friday. UTStarcom has a 52-week low of $1.84 and a 52-week high of $3.22. The business’s 50-day simple moving average is $2.38 and its 200 day simple moving average is $2.63.

Institutional Trading of UTStarcom

A hedge fund recently bought a new stake in UTStarcom stock. Garden State Investment Advisory Services LLC acquired a new stake in UTStarcom Holdings Corp. (NASDAQ:UTSI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 2.72% of UTStarcom as of its most recent SEC filing. Institutional investors and hedge funds own 1.83% of the company’s stock.

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.