StockNews.com Begins Coverage on UTStarcom (NASDAQ:UTSI)

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

UTStarcom Stock Performance

Shares of UTSI stock opened at $2.74 on Monday. UTStarcom has a fifty-two week low of $2.20 and a fifty-two week high of $3.30. The stock’s 50-day simple moving average is $2.74 and its 200-day simple moving average is $2.78.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in UTStarcom stock. Garden State Investment Advisory Services LLC acquired a new stake in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 reporting period. 1.83% of the stock is owned by 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.