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

Equities research analysts at StockNews.com began coverage on shares of UTStarcom (NASDAQ:UTSI) in a research note issued to investors on Monday. The firm set a “sell” rating on the Wireless communications provider’s stock.

UTStarcom Price Performance

Shares of NASDAQ:UTSI opened at $2.70 on Monday. The business has a 50-day moving average price of $2.86 and a 200 day moving average price of $2.76. UTStarcom has a 12-month low of $2.20 and a 12-month high of $3.70.

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 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. 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 approximately 2.72% of UTStarcom at the end of the most recent quarter. Institutional investors and hedge funds 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.