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

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

UTStarcom Stock Up 5.8 %

UTStarcom stock opened at $2.90 on Tuesday. The company has a fifty day simple moving average of $2.74 and a 200 day simple moving average of $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

An institutional investor recently bought a new position in UTStarcom stock. Garden State Investment Advisory Services LLC purchased a new position in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 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 SEC filing. 1.83% of the stock is currently owned by institutional investors.

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.