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

Investment analysts at StockNews.com began coverage on shares of UTStarcom (NASDAQ:UTSI) in a report released on Sunday. The firm set a “sell” rating on the Wireless communications provider’s stock.

UTStarcom Price Performance

UTSI opened at $2.40 on Friday. The firm has a 50 day moving average price of $2.70 and a 200-day moving average price of $2.76. UTStarcom has a twelve month low of $2.20 and a twelve month high of $3.22.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in UTStarcom stock. Garden State Investment Advisory Services LLC acquired a new stake in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 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. 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.