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

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

UTStarcom Stock Down 0.8 %

UTStarcom stock opened at $2.38 on Wednesday. UTStarcom has a fifty-two week low of $2.20 and a fifty-two week high of $3.22. The firm’s fifty day moving average price is $2.57 and its 200-day moving average price is $2.73.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in UTStarcom stock. Garden State Investment Advisory Services LLC acquired a new position in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI) in the third quarter, according to its most recent disclosure 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 about 2.72% of UTStarcom as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 1.83% of the company’s stock.

UTStarcom Company Profile

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.