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

StockNews.com assumed coverage on shares of UTStarcom (NASDAQ:UTSI) in a research note released on Monday. The brokerage issued a sell rating on the Wireless communications provider’s stock.

UTStarcom Price Performance

NASDAQ:UTSI opened at $2.85 on Monday. UTStarcom has a 52 week low of $2.20 and a 52 week high of $3.70. The firm’s 50-day simple moving average is $2.86 and its 200 day simple moving average is $2.76.

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 stake in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 256,341 shares of the Wireless communications provider’s stock, valued at approximately $795,000. Garden State Investment Advisory Services LLC owned approximately 2.72% of UTStarcom at the end of the most recent quarter. 1.83% of the stock is currently owned by institutional investors.

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.