UTStarcom (NASDAQ:UTSI) Now Covered by StockNews.com

StockNews.com began coverage on shares of UTStarcom (NASDAQ:UTSI) in a research note published on Wednesday morning. The brokerage issued a sell rating on the Wireless communications provider’s stock.

UTStarcom Stock Up 7.3 %

Shares of UTSI stock opened at $2.95 on Wednesday. UTStarcom has a 1-year low of $2.20 and a 1-year high of $3.30. The company has a 50-day moving average of $2.76 and a two-hundred day moving average of $2.79.

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) in the third quarter, according to its most recent disclosure 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 approximately 2.72% of UTStarcom at the end of the most recent quarter. 1.83% of the stock is owned by hedge funds and other institutional investors.

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.