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

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

UTStarcom Stock Performance

Shares of UTStarcom stock opened at $2.55 on Friday. UTStarcom has a one year low of $2.20 and a one year high of $3.30. The stock’s 50-day moving average is $2.72 and its 200 day moving average is $2.78.

Institutional Investors Weigh In On UTStarcom

A hedge fund recently bought a new stake in UTStarcom stock. Garden State Investment Advisory Services LLC bought a new stake in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 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 reporting period. 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.