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

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

UTStarcom Stock Performance

UTStarcom stock opened at $2.80 on Wednesday. UTStarcom has a twelve month low of $2.20 and a twelve month high of $3.30. The stock’s 50 day moving average is $2.76 and its 200 day moving average is $2.79.

Hedge Funds Weigh In On UTStarcom

A hedge fund recently bought a new stake in UTStarcom stock. Garden State Investment Advisory Services LLC bought a new position in UTStarcom Holdings Corp. (NASDAQ:UTSI) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 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 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors 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.