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Hot Stock: Towerstream, Shares Drop 8.5% (TWER)

Published on Thu, 01/31/2013 - 11:22
By Adrienne Chilton

Towerstream (NASDAQ:TWER) is one of today's worst performing low-priced stocks, down 8.5% to $2.90 on 6.1x average daily volume. Thus far today, Towerstream has traded 2.1 million shares, vs. average volume of 342,000 shares per day. The stock has underperformed the Dow (-8.5% to the Dow's -0.0%) and underperformed the S&P 500 (-8.5% to the S&P's -0.1%) during today's trading.

Towerstream share prices have moved between a 52-week high of $5.86 and a 52-week low of $2.33 and are now trading 25% above that low price at $2.90 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has slid 0.5%.

Towerstream Corporation offers wireless broadband Internet services to businesses. The Company operates in metropolitan areas in the United States.

There is potential upside of 175.7% for shares of Towerstream based on a current price of $2.90 and an average consensus analyst price target of $8.00. The stock should find initial resistance at its 50-day moving average (MA) of $3.27 and further resistance at its 200-day MA of $3.76.

By Adrienne Chilton
achilton@fnno.com

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