ValuEngine Upgrades UTStarcom Holdings Corp (UTSI) to “Hold”
UTStarcom Holdings Corp (NASDAQ:UTSI) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Friday.
Separately, Zacks Investment Research upgraded UTStarcom Holdings Corp from a “hold” rating to a “buy” rating and set a $2.50 target price on the stock in a report on Thursday, July 13th.
UTStarcom Holdings Corp (NASDAQ:UTSI) traded up 0.43% during mid-day trading on Friday, reaching $2.31. The company’s stock had a trading volume of 162,224 shares. The company has a market cap of $81.75 million, a price-to-earnings ratio of 82.50 and a beta of -0.34. The stock’s 50 day moving average is $2.12 and its 200 day moving average is $2.09. UTStarcom Holdings Corp has a 12 month low of $1.60 and a 12 month high of $2.40.
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A number of institutional investors and hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. boosted its holdings in UTStarcom Holdings Corp by 40.2% during the second quarter. Goldman Sachs Group Inc. now owns 75,637 shares of the Wireless communications provider’s stock worth $177,000 after buying an additional 21,678 shares during the last quarter. Virtu KCG Holdings LLC bought a new position in UTStarcom Holdings Corp during the second quarter worth about $141,000. Spark Investment Management LLC boosted its holdings in UTStarcom Holdings Corp by 116.4% during the second quarter. Spark Investment Management LLC now owns 48,700 shares of the Wireless communications provider’s stock worth $113,000 after buying an additional 26,200 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in UTStarcom Holdings Corp by 1.7% during the first quarter. Renaissance Technologies LLC now owns 829,197 shares of the Wireless communications provider’s stock worth $1,625,000 after buying an additional 14,000 shares during the last quarter. Finally, Schneider Capital Management Corp boosted its holdings in UTStarcom Holdings Corp by 6.1% during the first quarter. Schneider Capital Management Corp now owns 516,490 shares of the Wireless communications provider’s stock worth $1,012,000 after buying an additional 29,662 shares during the last quarter. Hedge funds and other institutional investors own 25.93% of the company’s stock.
About UTStarcom Holdings Corp
UTStarcom Holdings Corp. provides broadband products, solution and services. The Company delivers broadband transport and access (both wireless fidelity (Wi-Fi) and fixed line) products and solutions, optimized for mobile backhaul, metro aggregation, broadband access and Wi-Fi data offloading. Its segments include Equipment, which is focused on its equipment sales, including network infrastructure and application products, and Services, which is engaged in providing services and support of its equipment products and also the new operational support segment.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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