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

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

UTStarcom Stock Performance

Shares of UTStarcom stock opened at $2.55 on Friday. The company’s fifty day simple moving average is $2.72 and its 200-day simple moving average is $2.78. UTStarcom has a 1 year low of $2.20 and a 1 year high of $3.30.

Institutional Investors Weigh In On UTStarcom

A hedge fund recently bought a new stake in UTStarcom stock. Garden State Investment Advisory Services LLC acquired a new position in UTStarcom Holdings Corp. (NASDAQ:UTSI) during the 3rd quarter, according to the company in its most recent 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 about 2.72% of UTStarcom at the end of the most recent quarter. Institutional investors 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.