Shares of Towerstream Corp. (NASDAQ:TWER) gapped up prior to trading on Thursday . The stock had previously closed at ($2.07), but opened at $0.14. Towerstream Corp. shares last traded at $2.44, with a volume of 363,751 shares.

TWER has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Towerstream Corp. from a “hold” rating to a “buy” rating and set a $0.25 price target for the company in a research note on Wednesday, April 20th. HC Wainwright reiterated a “buy” rating on shares of Towerstream Corp. in a research note on Tuesday, March 22nd.

The firm’s market capitalization is $160.13 million. The stock’s 50 day moving average is $3.71 and its 200 day moving average is $4.31.

Towerstream Corp. (NASDAQ:TWER) last issued its earnings results on Tuesday, May 10th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.03. Equities research analysts predict that Towerstream Corp. will post ($0.33) EPS for the current fiscal year.

Towerstream Corporation (Towerstream) is a fourth generation (4G) and small cell rooftop tower company. The Company provides a range of Wireless communication services through its two business segments: Fixed Wireless Services Segment and Shared Wireless Infrastructure Segment. The Company’s fixed Wireless service supports bandwidth on demand, Wireless redundancy, virtual private networks, disaster recovery, bundled data and video services.