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

Equities research analysts at StockNews.com assumed coverage on shares of UTStarcom (NASDAQ:UTSI) in a report issued on Saturday. The brokerage set a “sell” rating on the Wireless communications provider’s stock.

UTStarcom Price Performance

Shares of UTSI stock opened at $2.38 on Friday. The stock has a fifty day moving average of $2.41 and a 200 day moving average of $2.65. UTStarcom has a 52 week low of $1.84 and a 52 week 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 bought a new position in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI) during the third quarter, according to the company in its most recent 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 2.72% of UTStarcom as of its most recent filing with the Securities and 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.