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

Equities researchers at StockNews.com started coverage on shares of UTStarcom (NASDAQ:UTSI) in a research report issued to clients and investors on Wednesday. The firm set a “sell” rating on the Wireless communications provider’s stock.

UTStarcom Stock Down 0.8 %

Shares of UTStarcom stock opened at $2.38 on Wednesday. UTStarcom has a 1 year low of $2.20 and a 1 year high of $3.22. The stock has a fifty day moving average price of $2.57 and a 200-day moving average price of $2.73.

Hedge Funds Weigh In On UTStarcom

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