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

StockNews.com started coverage on shares of UTStarcom (NASDAQ:UTSI) in a research report issued on Saturday. The brokerage set a “sell” rating on the Wireless communications provider’s stock.

UTStarcom Trading Up 3.7 %

UTStarcom stock opened at $2.80 on Friday. UTStarcom has a 1 year low of $2.20 and a 1 year high of $3.44. The firm’s 50 day moving average price is $2.77 and its 200-day moving average price is $2.76.

Institutional Investors Weigh In On UTStarcom

An institutional investor recently bought a new position in UTStarcom stock. Garden State Investment Advisory Services LLC acquired a new position in UTStarcom Holdings Corp. (NASDAQ:UTSI) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing. 1.83% of the stock is currently owned by hedge funds and other institutional investors.

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.