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

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

UTStarcom Price Performance

UTSI stock opened at $2.45 on Wednesday. The firm has a 50-day moving average price of $2.59 and a 200-day moving average price of $2.73. UTStarcom has a 12 month low of $2.20 and a 12 month high of $3.22.

Hedge Funds Weigh In On UTStarcom

An institutional investor recently bought a new position in UTStarcom stock. Garden State Investment Advisory Services LLC purchased a new stake in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 256,341 shares of the Wireless communications provider’s stock, valued at approximately $795,000. Garden State Investment Advisory Services LLC owned approximately 2.72% of UTStarcom at the end of the most recent reporting period. 1.83% of the stock is currently owned by institutional investors and hedge funds.

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.