StockNews.com initiated coverage on shares of UTStarcom (NASDAQ:UTSI – Get Rating) in a research report issued to clients and investors on Wednesday. The firm set a “sell” rating on the Wireless communications provider’s stock.
Shares of UTStarcom stock opened at $0.77 on Wednesday. The business’s fifty day simple moving average is $0.78. UTStarcom has a twelve month low of $0.68 and a twelve month high of $2.00.
A hedge fund recently bought a new stake in UTStarcom stock. Millennium Management LLC acquired a new stake in UTStarcom Holdings Corp. (NASDAQ:UTSI – Get Rating) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 53,985 shares of the Wireless communications provider’s stock, valued at approximately $62,000. Millennium Management LLC owned about 0.15% of UTStarcom at the end of the most recent reporting period. 4.02% of the stock is owned by institutional investors and hedge funds.
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, Taiwan, and internationally. The company's products include packet transport network, packet aggregation network, multi-services access network, fiber to the X, carrier Wi-Fi solutions, and software defined network controller products, as well as smart retail products.
- Get a free copy of the StockNews.com research report on UTStarcom (UTSI)
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