StockNews.com started coverage on shares of UTStarcom (NASDAQ:UTSI – Get Rating) in a research report issued on Sunday. The firm set a “sell” rating on the Wireless communications provider’s stock.
UTStarcom Stock Up 7.9 %
Shares of UTSI stock opened at $3.57 on Friday. UTStarcom has a 52-week low of $3.05 and a 52-week high of $5.03. The firm’s 50 day moving average price is $3.73 and its two-hundred day moving average price is $4.09.
Hedge Funds Weigh In On UTStarcom
An institutional investor recently raised its position in UTStarcom stock. Susquehanna International Group LLP lifted its position in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI – Get Rating) by 24.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & 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 0.16% of UTStarcom worth $61,000 at the end of the most recent reporting period. 2.68% of the stock is currently owned by hedge funds and other institutional investors.
UTStarcom Company Profile
UTStarcom Holdings Corp. is a telecom infrastructure company, which develops technology for cloud-based services, mobile, streaming, and other applications. It operates through the following segments: Equipment, and Services. The Equipment segment focuses on equipment sales including network infrastructure and application products, which include broadband products, wireless infrastructure technologies.
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