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

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

UTStarcom Stock Performance

Shares of UTSI opened at $2.75 on Thursday. UTStarcom has a 1 year low of $2.20 and a 1 year high of $3.30. The stock’s fifty day moving average price is $2.73 and its two-hundred day moving average price is $2.78.

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 UTStarcom Holdings Corp. (NASDAQ:UTSI) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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. 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.