By midafternoon, the stock was down 7.1% to $2.42.
In the three months to December, the telecommunications service provider reported a net loss of 10 cents a share, 2 cents narrower than the year-ago quarter's loss of 12 cents a share. The net loss came in as analysts surveyed by Thomson Reuters forecast.
Revenue climbed 3.5% year over year to $8.52 million, slightly short of estimates of $8.65 million.
For its first quarter, management anticipates revenue between $8.45 million and $8.75 million.
TheStreet Ratings team rates TOWERSTREAM CORP as a Sell with a ratings score of D. The team has this to say about their recommendation:
"We rate TOWERSTREAM CORP (TWER) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, poor profit margins and generally disappointing historical performance in the stock itself."
- You can view the full analysis from the report here: TWER Ratings Report