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

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

UTStarcom Stock Down 2.3 %

UTSI opened at $2.97 on Tuesday. UTStarcom has a twelve month low of $2.20 and a twelve month high of $3.70. The company has a fifty day simple moving average of $2.86 and a 200 day simple moving average of $2.77.

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) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 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 as of its most recent filing with the Securities & Exchange Commission. 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.