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

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

UTStarcom Trading Down 2.3 %

Shares of UTStarcom stock opened at $2.97 on Tuesday. UTStarcom has a twelve month low of $2.20 and a twelve month high of $3.70. The business’s 50 day simple moving average is $2.86 and its 200-day simple moving average is $2.77.

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) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 256,341 shares of the Wireless communications provider’s stock, valued at approximately $795,000. Garden State Investment Advisory Services LLC owned 2.72% of UTStarcom at the end of the most recent quarter. Hedge funds and other institutional investors own 1.83% of the company’s stock.

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.