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

StockNews.com began coverage on shares of UTStarcom (NASDAQ:UTSI) in a research note published on Friday morning. The brokerage issued a sell rating on the Wireless communications provider’s stock.

UTStarcom Price Performance

UTSI opened at $2.43 on Friday. UTStarcom has a 1 year low of $2.20 and a 1 year high of $3.54. The firm has a 50 day moving average price of $2.79 and a 200 day moving average price of $2.76.

Hedge Funds Weigh In On UTStarcom

A hedge fund recently bought a new stake in UTStarcom stock. Garden State Investment Advisory Services LLC acquired a new position in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 256,341 shares of the Wireless communications provider’s stock, valued at approximately $795,000. Garden State Investment Advisory Services LLC owned approximately 2.72% of UTStarcom at the end of the most recent reporting period. Institutional investors and hedge funds own 1.83% of the company’s stock.

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.