UTStarcom (NASDAQ:UTSI) Coverage Initiated by Analysts at StockNews.com

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

UTStarcom Stock Up 2.3 %

Shares of UTSI opened at $2.40 on Tuesday. The company has a 50-day simple moving average of $2.62 and a 200-day simple moving average of $2.74. UTStarcom has a 52 week low of $2.20 and a 52 week high of $3.22.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in UTStarcom stock. Garden State Investment Advisory Services LLC bought a new stake in UTStarcom Holdings Corp. (NASDAQ:UTSI) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 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 as of its most recent SEC filing. 1.83% of the stock is currently owned by hedge funds and other institutional investors.

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.