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

Research analysts at StockNews.com started coverage on shares of UTStarcom (NASDAQ:UTSI) in a report released on Tuesday. The firm set a “sell” rating on the Wireless communications provider’s stock.

UTStarcom Trading Up 5.8 %

UTSI opened at $2.90 on Tuesday. The company has a fifty day moving average of $2.74 and a 200-day moving average of $2.78. UTStarcom has a twelve month low of $2.20 and a twelve month high of $3.30.

Hedge Funds Weigh In On UTStarcom

A hedge fund recently bought a new stake in UTStarcom stock. Garden State Investment Advisory Services LLC acquired a new position in shares of 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 institutional investor acquired 256,341 shares of the Wireless communications provider’s stock, valued at approximately $795,000. Garden State Investment Advisory Services LLC owned about 2.72% of UTStarcom at the end of the most recent quarter. 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.