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

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

UTStarcom Trading Down 2.1 %

Shares of NASDAQ:UTSI opened at $2.35 on Tuesday. UTStarcom has a 1 year low of $2.20 and a 1 year high of $3.22. The firm has a fifty day moving average price of $2.63 and a 200 day moving average price of $2.74.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in UTStarcom stock. Garden State Investment Advisory Services LLC purchased a new stake in UTStarcom Holdings Corp. (NASDAQ:UTSI) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & 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 2.72% of UTStarcom as of its most recent SEC filing. 1.83% of the stock is currently owned by institutional investors.

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.