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

Research analysts at StockNews.com assumed coverage on shares of UTStarcom (NASDAQ:UTSI) in a research note issued on Tuesday. The brokerage set a “sell” rating on the Wireless communications provider’s stock.

UTStarcom Price Performance

Shares of NASDAQ:UTSI opened at $2.78 on Tuesday. The business has a 50-day simple moving average of $2.74 and a two-hundred day simple moving average of $2.78. UTStarcom has a fifty-two week low of $2.20 and a fifty-two week high of $3.30.

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 UTStarcom Holdings Corp. (NASDAQ:UTSI) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & 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 reporting period. 1.83% of the stock is 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.