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

Investment analysts at StockNews.com started 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 Stock Performance

UTStarcom stock opened at $2.70 on Monday. The stock’s fifty day moving average is $2.86 and its two-hundred day moving average is $2.76. UTStarcom has a 1-year low of $2.20 and a 1-year high of $3.70.

Institutional Trading of UTStarcom

An institutional investor recently bought a new position in UTStarcom stock. Garden State Investment Advisory Services LLC purchased a new position in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI) during the 3rd quarter, according to its most recent filing with the Securities and 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 at the end of the most recent reporting period. 1.83% of the stock is owned by institutional investors and hedge funds.

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.