UTStarcom Holdings Corp. (NASDAQ:UTSI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday. 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. “
Separately, TheStreet raised shares of UTStarcom Holdings Corp. from a “sell” rating to a “hold” rating in a research report on Friday, September 9th.
Shares of UTStarcom Holdings Corp. (NASDAQ:UTSI) traded up 4.10% during mid-day trading on Tuesday, hitting $2.03.
60,285 shares of the stock were exchanged. UTStarcom Holdings Corp. has a 52 week low of $1.59 and a 52 week high of $2.92. The stock’s 50-day moving average is $2.01 and its 200-day moving average is $1.99. UTStarcom Holdings Corp. (NASDAQ:UTSI) last released its quarterly earnings results on Tuesday, November 8th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. UTStarcom Holdings Corp.
had a negative net margin of 11.85% and a negative return on equity of 13.15%. The company had revenue of $16.40 million for the quarter, compared to analyst estimates of $20 million. During the same period last year, the firm earned ($0.13) earnings per share. On average, equities analysts forecast that UTStarcom Holdings Corp. will post $0.01 EPS for the current year. A hedge fund recently bought a new stake in UTStarcom Holdings Corp. stock.
Bridgeway Capital Management Inc. bought a new stake in shares of UTStarcom Holdings Corp. (NASDAQ:UTSI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 90,200 shares of the company’s stock, valued at approximately $173,000. Bridgeway Capital Management Inc. owned about 0.25% of UTStarcom Holdings Corp. at the end of the most recent quarter.
4.26% of the stock is currently owned by institutional investors and hedge funds. About UTStarcom Holdings Corp.
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.