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

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

UTStarcom Stock Performance

Shares of NASDAQ UTSI opened at $2.56 on Wednesday. The company has a 50 day simple moving average of $2.86 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 $3.60.

Institutional Trading of UTStarcom

An institutional investor recently bought a new position in UTStarcom stock. Garden State Investment Advisory Services LLC bought a new stake in UTStarcom Holdings Corp. (NASDAQ:UTSI) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 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. 1.83% of the stock is currently owned by institutional investors and hedge funds.

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.