UTStarcom (NASDAQ:UTSI) Now Covered by StockNews.com

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

UTStarcom Price Performance

Shares of UTSI stock opened at $2.93 on Tuesday. The company’s 50 day moving average is $2.73 and its 200 day moving average is $3.15. UTStarcom has a 52-week low of $2.40 and a 52-week high of $4.31.

Hedge Funds Weigh In On UTStarcom

A hedge fund recently raised its stake in UTStarcom stock. Susquehanna International Group LLP raised its position in UTStarcom Holdings Corp. (NASDAQ:UTSI) by 24.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,061 shares of the Wireless communications provider’s stock after acquiring an additional 2,948 shares during the period. Susquehanna International Group LLP owned approximately 0.16% of UTStarcom worth $61,000 as of its most recent filing with the Securities & Exchange Commission. 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.