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

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

UTStarcom Price Performance

UTSI opened at $2.66 on Tuesday. UTStarcom has a 1 year low of $2.40 and a 1 year high of $4.31. The stock has a fifty day moving average price of $2.74 and a 200 day moving average price of $3.14.

Institutional Trading of UTStarcom

A hedge fund recently raised its stake in UTStarcom stock. Susquehanna International Group LLP boosted its position in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI) by 24.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,061 shares of the Wireless communications provider’s stock after purchasing an additional 2,948 shares during the period. Susquehanna International Group LLP owned 0.16% of UTStarcom worth $61,000 at the end of the most recent reporting period. 1.83% of the stock is owned by hedge funds and other 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.