UTStarcom (NASDAQ:UTSI) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of UTStarcom (NASDAQ:UTSI) in a research report sent to investors on Friday. The brokerage issued a sell rating on the Wireless communications provider’s stock.

UTStarcom Trading Down 2.4 %

UTStarcom stock opened at $2.43 on Friday. The business’s 50-day simple moving average is $2.79 and its two-hundred day simple moving average is $2.76. UTStarcom has a fifty-two week low of $2.20 and a fifty-two week high of $3.54.

Hedge Funds Weigh In On UTStarcom

An institutional investor recently bought a new position in UTStarcom stock. Garden State Investment Advisory Services LLC bought a new position in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 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 reporting period. 1.83% of the stock is 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.