Towerstream Corp. (TWER) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Towerstream Corp. (NASDAQ:TWER) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. They currently have $0.75 price target on the stock.
According to Zacks, “Towerstream is a leading fixed wireless service provider in the U.S., delivering high-speed Internet access to businesses. The company has established pre-WiMAX networks in markets such as New York City, Los Angeles, Chicago, San Francisco, Seattle, Miami, the greater Boston area, and Providence and Newport, RI, and continues to expand coverage throughout the United States. The company was the first carrier selected to join the WiMAX Forum to assist leading vendors in establishing industry compliance with international broadband wireless access standards and cross-vendor interoperability. “
Shares of Towerstream Corp. (NASDAQ:TWER) traded down 9.5455% during trading on Tuesday, hitting $0.4975. 402,502 shares of the stock traded hands. The company’s market cap is $4.39 million. Towerstream Corp. has a 1-year low of $0.49 and a 1-year high of $11.40. The stock has a 50-day moving average of $1.08 and a 200 day moving average of $2.45.
Towerstream Corp. (NASDAQ:TWER) last posted its quarterly earnings data on Monday, November 14th. The company reported ($1.00) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. On average, equities research analysts predict that Towerstream Corp. will post ($5.77) EPS for the current fiscal year.
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About Towerstream Corp.
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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