UTStarcom (NASDAQ:UTSI) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of UTStarcom (NASDAQ:UTSI) in a research note issued on Tuesday. The brokerage set a “sell” rating on the Wireless communications provider’s stock.

UTStarcom Trading Up 1.3 %

Shares of NASDAQ:UTSI opened at $2.78 on Tuesday. The stock has a fifty day simple moving average of $2.74 and a two-hundred day simple moving average of $2.78. UTStarcom has a 12-month low of $2.20 and a 12-month high of $3.30.

Institutional Trading of UTStarcom

An institutional investor recently bought a new position in UTStarcom stock. Garden State Investment Advisory Services LLC purchased a new stake in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing. 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.