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

StockNews.com began coverage on shares of UTStarcom (NASDAQ:UTSI) in a research report report published on Tuesday. The brokerage issued a sell rating on the Wireless communications provider’s stock.

UTStarcom Price Performance

Shares of UTSI opened at $2.61 on Tuesday. The business’s 50-day moving average price is $2.74 and its 200 day moving average price is $3.14. UTStarcom has a 1-year low of $2.40 and a 1-year high of $4.25.

Hedge Funds Weigh In On UTStarcom

A hedge fund recently raised its stake in UTStarcom stock. Susquehanna International Group LLP increased its stake in UTStarcom Holdings Corp. (NASDAQ:UTSI) by 24.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,061 shares of the Wireless communications provider’s stock after purchasing an additional 2,948 shares during the quarter. Susquehanna International Group LLP owned approximately 0.16% of UTStarcom worth $61,000 as of its most recent filing with the Securities and Exchange Commission. 1.83% of the stock is 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.