Towerstream Corp. (TWER) Trading Up 15.4% Following Better-Than-Expected Earnings
Towerstream Corp. (NASDAQ:TWER)’s share price was up 15.4% on Monday following a stronger than expected earnings report. The company traded as high as $1.03 and last traded at $0.90, with a volume of 2,175,094 shares trading hands. The stock had previously closed at $0.78.
The company reported ($1.00) EPS for the quarter, topping the consensus estimate of ($1.19) by $0.19. Towerstream Corp. had a negative net margin of 115.28% and a negative return on equity of 1,151.39%.
Separately, Zacks Investment Research raised shares of Towerstream Corp. from a “hold” rating to a “buy” rating and set a $2.75 price objective for the company in a research note on Saturday, August 13th.
The firm’s market capitalization is $3.05 million. The firm has a 50 day moving average of $1.17 and a 200-day moving average of $2.56.
Towerstream Corp. Company Profile
Towerstream Corporation is a provider of fixed wireless services to businesses in over 10 urban markets across the United States. The Company operates through Fixed Wireless Services (Fixed Wireless) segment. Its fixed wireless service supports bandwidth on demand, wireless redundancy, virtual private networks, disaster recovery, bundled data and video services.
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