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

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

UTStarcom Trading Down 6.1 %

NASDAQ:UTSI opened at $2.56 on Friday. The company’s 50 day moving average price is $2.72 and its 200-day moving average price is $2.78. UTStarcom has a 52 week low of $2.20 and a 52 week high of $3.30.

Institutional Investors 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 UTStarcom Holdings Corp. (NASDAQ:UTSI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 quarter. Institutional investors and hedge funds 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.