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

Stock analysts at StockNews.com began coverage on shares of UTStarcom (NASDAQ:UTSI) in a research report issued to clients and investors on Wednesday. The brokerage set a “sell” rating on the Wireless communications provider’s stock.

UTStarcom Stock Up 1.0 %

NASDAQ:UTSI opened at $2.95 on Wednesday. UTStarcom has a one year low of $2.20 and a one year high of $3.62. The stock has a 50 day moving average price of $2.87 and a 200 day moving average price of $2.78.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in UTStarcom stock. Garden State Investment Advisory Services LLC purchased a new position in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI) in the third quarter, according to the company in its most recent 13F 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 about 2.72% of UTStarcom at the end of the most recent reporting period. Hedge funds and other institutional investors 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.