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

StockNews.com started coverage on shares of UTStarcom (NASDAQ:UTSI) in a research report sent to investors on Tuesday. The firm issued a sell rating on the Wireless communications provider’s stock.

UTStarcom Stock Performance

Shares of UTSI opened at $2.40 on Tuesday. The company has a 50-day moving average of $2.61 and a two-hundred day moving average of $2.73. UTStarcom has a 12-month low of $2.20 and a 12-month high of $3.22.

Hedge Funds Weigh In On UTStarcom

An institutional investor recently bought a new position 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 the company in 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 hedge funds and other 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.