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

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

UTStarcom Stock Performance

Shares of UTSI opened at $2.38 on Friday. The business has a 50-day moving average of $2.46 and a 200-day moving average of $2.68. UTStarcom has a 1 year low of $2.17 and a 1 year 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 bought a new stake in UTStarcom Holdings Corp. (NASDAQ:UTSI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 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 as of its most recent SEC filing. 1.83% of the stock is currently owned by 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.