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

StockNews.com initiated coverage on shares of UTStarcom (NASDAQ:UTSI) in a research report released on Tuesday morning. The brokerage issued a sell rating on the Wireless communications provider’s stock.

UTStarcom Stock Up 2.3 %

Shares of UTStarcom stock opened at $2.40 on Tuesday. UTStarcom has a 1-year low of $2.20 and a 1-year high of $3.22. The firm’s 50-day moving average price is $2.62 and its two-hundred day moving average price is $2.74.

Institutional Trading of UTStarcom

A hedge fund recently bought a new stake in UTStarcom stock. Garden State Investment Advisory Services LLC acquired a new position in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 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.