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

Equities research analysts at StockNews.com assumed coverage on shares of UTStarcom (NASDAQ:UTSI) in a research report issued to clients and investors on Monday. The brokerage set a “sell” rating on the Wireless communications provider’s stock.

UTStarcom Stock Performance

UTSI stock opened at $2.74 on Monday. UTStarcom has a 52-week low of $2.20 and a 52-week high of $3.30. The stock’s fifty day simple moving average is $2.74 and its 200-day simple moving average is $2.78.

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 stake in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and 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 as of its most recent SEC filing. 1.83% of the stock is 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.