StockNews.com assumed coverage on shares of UTStarcom (NASDAQ:UTSI – Free Report) in a report issued on Thursday morning. The firm issued a sell rating on the Wireless communications provider’s stock.
UTStarcom Stock Performance
UTSI stock opened at $2.59 on Thursday. UTStarcom has a 52 week low of $2.20 and a 52 week high of $3.30. The firm has a 50 day moving average of $2.73 and a 200 day moving average of $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 purchased a new position in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI – Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 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.
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.
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