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

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

UTStarcom Trading Down 4.9 %

Shares of NASDAQ:UTSI opened at $2.74 on Friday. The company’s fifty day moving average price is $2.76 and its 200 day moving average price is $2.77. UTStarcom has a 12 month low of $2.20 and a 12 month high of $3.43.

Hedge Funds Weigh In On UTStarcom

A hedge fund recently bought a new stake 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 disclosure with the Securities & Exchange Commission. 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 approximately 2.72% of UTStarcom as of its most recent SEC filing. Institutional investors 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.