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

StockNews.com began coverage on shares of UTStarcom (NASDAQ:UTSI) in a research report sent to investors on Tuesday morning. The firm issued a sell rating on the Wireless communications provider’s stock.

UTStarcom Stock Performance

Shares of NASDAQ UTSI opened at $2.99 on Tuesday. The business’s 50-day moving average price is $2.87 and its two-hundred day moving average price is $2.78. UTStarcom has a one year low of $2.20 and a one year high of $3.66.

Institutional Trading of UTStarcom

An institutional investor recently bought a new position in UTStarcom stock. Garden State Investment Advisory Services LLC purchased a new position in UTStarcom Holdings Corp. (NASDAQ:UTSI) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 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 at the end of the most recent reporting period. 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.