UTStarcom (NASDAQ:UTSI) Research Coverage Started at StockNews.com

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

UTStarcom Trading Down 3.7 %

Shares of UTSI opened at $2.36 on Thursday. UTStarcom has a fifty-two week low of $2.20 and a fifty-two week high of $3.22. The firm has a 50-day simple moving average of $2.53 and a 200-day simple moving average of $2.71.

Institutional Investors Weigh In On UTStarcom

An institutional investor recently bought a new position in UTStarcom stock. Garden State Investment Advisory Services LLC acquired a new position in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 2.72% of UTStarcom at the end of the most recent reporting period. Institutional investors and hedge funds 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.