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

StockNews.com initiated coverage on shares of UTStarcom (NASDAQ:UTSI) in a report released on Wednesday morning. The firm issued a sell rating on the Wireless communications provider’s stock.

UTStarcom Stock Down 1.0 %

UTSI stock opened at $2.38 on Wednesday. The firm’s fifty day moving average is $2.57 and its 200 day moving average is $2.72. UTStarcom has a 52 week low of $2.20 and a 52 week high of $3.22.

Institutional Investors Weigh In On 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) during the third quarter, according to its most recent disclosure with the Securities and 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 2.72% of UTStarcom at the end of the most recent reporting period. 1.83% of the stock is currently owned by institutional investors.

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.