Towerstream Corporation (TWER) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the technology sector during morning trading on September 22. At the lunch break, shares of TWER have risen 18.08% to $1.53 after closing the day prior at $1.3. In the first two and a half hours of trading, the stock has gone as high as $1.57 and as low as $1.33. Today’s rise has come with about 1.33 million shares changing hands, compared to an average 30-day volume of 156,700 for Towerstream Corporation. The price is currently below the 30-day volume weighted average price of $1.49 for TWER.
The share appreciation gives the company a market capitalization of $5.91 million based upon 4.55 million shares outstanding. It also means that TWER has a price-to-book ratio of 4.15:1.
In the past 52 weeks, shares of TWER have traded as low as $1.25 and as high as $25.4. Technical traders will take note that at $1.53, shares of TWER are trading below their 200-day MA at $3.92 and below their 50-day MA at $2.33. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is TWER?
Towerstream Corp is a provider of fixed wireless services to businesses through its two business segments; Fixed Wireless Services Segment, and Shared Wireless Infrastructure Services Segment. The company’s 131 employees are led by CEO Philip Urso from the corporate headquarters at 88 Silva Lane in Middletown, RI.
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