Zacks Investment Research upgraded shares of Towerstream Co. (NASDAQ:TWER) from a hold rating to a buy rating in a report issued on Tuesday. The firm currently has $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 (NASDAQ:TWER) opened at 0.48 on Tuesday. The stock’s market cap is $4.24 million. Towerstream has a one year low of $0.45 and a one year high of $11.40. The firm’s 50-day moving average price is $1.06 and its 200 day moving average price is $2.44.
Towerstream (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 the consensus estimate of ($1.19) by $0.19. Towerstream had a negative return on equity of 1,151.39% and a negative net margin of 115.28%. Equities research analysts expect that Towerstream will post ($5.77) EPS for the current fiscal year.
Towerstream 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.