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

Equities research analysts at StockNews.com started coverage on shares of UTStarcom (NASDAQ:UTSI) in a research note issued to investors on Thursday. The firm set a “sell” rating on the Wireless communications provider’s stock.

UTStarcom Stock Performance

NASDAQ UTSI opened at $2.70 on Thursday. The stock’s 50 day moving average is $2.83 and its 200 day moving average is $2.77. UTStarcom has a twelve month low of $2.20 and a twelve month high of $3.54.

Hedge Funds Weigh In On UTStarcom

A hedge fund recently bought a new stake in UTStarcom stock. Garden State Investment Advisory Services LLC acquired a new stake in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI) in the third quarter, according to its most recent filing with the Securities and 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 2.72% of UTStarcom at the end of the most recent quarter. 1.83% of the stock is currently owned by institutional investors.

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.