Towerstream Corp. (NASDAQ:TWER)’s share price dropped 3.4% during trading on Monday . The company traded as low as $2.23 and last traded at $2.24, with a volume of 73,600 shares traded. The stock had previously closed at $2.32.

Separately, Zacks Investment Research raised Towerstream Corp. from a “hold” rating to a “buy” rating and set a $2.75 target price for the company in a research note on Saturday, August 13th.

The firm’s market capitalization is $10.19 million. The stock has a 50 day moving average of $2.48 and a 200-day moving average of $3.44.

Towerstream Corp. (NASDAQ:TWER) last released its earnings results on Tuesday, August 9th. The company reported ($1.38) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.60) by $0.22. Equities analysts expect that Towerstream Corp. will post ($5.77) EPS for the current year.

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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