Towerstream Corp. (TWER) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Towerstream Corp. (NASDAQ:TWER) from a buy rating to a hold rating in a research note released on Wednesday morning.

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) opened at 1.16 on Wednesday. The company’s market capitalization is $5.28 million. The stock has a 50 day moving average price of $1.65 and a 200-day moving average price of $2.93. Towerstream Corp. has a one year low of $1.15 and a one year high of $20.20.

Towerstream Corp. (NASDAQ:TWER) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($1.38) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.60) by $0.22. Towerstream Corp. had a negative return on equity of 1,151.39% and a negative net margin of 122.42%. On average, equities research analysts expect that Towerstream Corp. will post ($5.77) EPS for the current year.

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.

5 Day Chart for NASDAQ:TWER

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