UTStarcom (NASDAQ:UTSI) Stock Crosses Above 200 Day Moving Average – Here’s Why

Shares of UTStarcom Holdings Corp (NASDAQ:UTSI) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.52 and traded as high as $2.52. UTStarcom shares last traded at $2.35, with a volume of 86,160 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of UTStarcom in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, UTStarcom currently has an average rating of “Sell”.

UTStarcom Stock Up 6.2%

The stock’s fifty day simple moving average is $2.66 and its 200-day simple moving average is $2.52.

UTStarcom (NASDAQ:UTSI) last issued its quarterly earnings data on Tuesday, March 24th. The Wireless communications provider reported ($0.23) EPS for the quarter. The company had revenue of $2.17 million for the quarter.

About UTStarcom

UTStarcom, Inc (NASDAQ: UTSI) is a global provider of broadband networking and telecommunication solutions. Its product portfolio includes carrier-grade packet optical transport systems, microwave transmission equipment, mobile access radios, small cells and related software platforms. The company serves telecommunications carriers, internet service providers, enterprise networks and government agencies with end-to-end infrastructure designed to support 4G and 5G deployments, fixed broadband access and intelligent connectivity applications.

Founded in 1991, UTStarcom established its reputation in the late 1990s and early 2000s by supplying digital subscriber line access multiplexers (DSLAMs) and broadband routers to operators worldwide.