UTStarcom Holdings Corp (UTSI) Downgraded to “Hold” at Zacks Investment Research
Zacks Investment Research lowered shares of UTStarcom Holdings Corp (NASDAQ:UTSI) from a buy rating to a hold rating in a report released on Friday.
According to Zacks, “UTStarcom Holdings Corp. is engaged in providing interactive Protocol based network solutions. The Company also provides integration and support services in Internet Protocol TV, Interactive TV, Internet TV and Broadband for cable and telecom operators. It designs and sells IP-based telecommunications infrastructure products including its primary product suite of IPTV, and broadband solutions along with the services relating to the installation, operation and maintenance of these products. UTStarcom Holdings Corp., formerly known as UTStarcom, Inc., is headquartered in Beijing, China. “
A number of other research firms also recently commented on UTSI. ValuEngine upgraded UTStarcom Holdings Corp from a sell rating to a hold rating in a research report on Tuesday, June 6th. TheStreet upgraded UTStarcom Holdings Corp from a d rating to a c- rating in a research report on Monday, April 17th.
Shares of UTStarcom Holdings Corp (UTSI) traded down 1.82% during trading on Friday, hitting $2.16. The company had a trading volume of 38,656 shares. The firm’s 50 day moving average is $2.23 and its 200-day moving average is $1.98. The stock has a market capitalization of $76.44 million, a P/E ratio of 77.14 and a beta of -0.33. UTStarcom Holdings Corp has a 52 week low of $1.60 and a 52 week high of $2.40.
An institutional investor recently raised its position in UTStarcom Holdings Corp stock. Schneider Capital Management Corp increased its position in shares of UTStarcom Holdings Corp (NASDAQ:UTSI) by 6.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 516,490 shares of the Wireless communications provider’s stock after buying an additional 29,662 shares during the period. Schneider Capital Management Corp owned approximately 1.46% of UTStarcom Holdings Corp worth $1,012,000 at the end of the most recent reporting period. 24.77% of the stock is currently owned by institutional investors and hedge funds.
UTStarcom Holdings Corp Company Profile
UTStarcom Holdings Corp. provides broadband products, solution and services. The Company delivers broadband transport and access (both wireless fidelity (Wi-Fi) and fixed line) products and solutions, optimized for mobile backhaul, metro aggregation, broadband access and Wi-Fi data offloading. Its segments include Equipment, which is focused on its equipment sales, including network infrastructure and application products, and Services, which is engaged in providing services and support of its equipment products and also the new operational support segment.
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