StockNews.com began coverage on shares of UTStarcom (NASDAQ:UTSI – Free Report) in a report published on Monday morning. The brokerage issued a sell rating on the Wireless communications provider’s stock.
UTStarcom Stock Down 0.4 %
UTStarcom stock opened at $2.62 on Monday. UTStarcom has a 12 month low of $2.50 and a 12 month high of $4.75. The business has a 50 day moving average price of $3.17 and a two-hundred day moving average price of $3.46.
Hedge Funds Weigh In On UTStarcom
A hedge fund recently raised its stake in UTStarcom stock. Susquehanna International Group LLP lifted its stake in UTStarcom Holdings Corp. (NASDAQ:UTSI – Free Report) by 24.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,061 shares of the Wireless communications provider’s stock after buying an additional 2,948 shares during the period. Susquehanna International Group LLP owned about 0.16% of UTStarcom worth $61,000 at the end of the most recent reporting period. 2.29% of the stock is currently owned by institutional investors and hedge funds.
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.
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