StockNews.com initiated coverage on shares of UTStarcom (NASDAQ:UTSI – Free Report) in a research report released on Tuesday morning. The brokerage issued a sell rating on the Wireless communications provider’s stock.
UTStarcom Price Performance
Shares of UTSI stock opened at $2.93 on Tuesday. UTStarcom has a 1 year low of $2.40 and a 1 year high of $4.31. The firm has a fifty day moving average price of $2.73 and a 200-day moving average price of $3.15.
Institutional Investors Weigh In On UTStarcom
An institutional investor recently raised its position in UTStarcom stock. Susquehanna International Group LLP boosted its holdings in UTStarcom Holdings Corp. (NASDAQ:UTSI – Free Report) by 24.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 15,061 shares of the Wireless communications provider’s stock after buying an additional 2,948 shares during the period. Susquehanna International Group LLP owned 0.16% of UTStarcom worth $61,000 as of its most recent SEC filing. 1.83% of the stock is currently owned by hedge funds and other institutional investors.
UTStarcom Company Profile
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.
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