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

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

UTStarcom Stock Performance

NASDAQ UTSI opened at $2.74 on Monday. UTStarcom has a one year low of $2.20 and a one year high of $3.30. The company’s 50 day moving average price is $2.74 and its 200 day moving average price is $2.78.

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 UTStarcom Holdings Corp. (NASDAQ:UTSI) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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. 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.