Shares of Towerstream Corporation (Nasdaq:TWER) were gapping up Monday morning with an open price 10.5% higher than Friday's closing price. The stock closed at $1.81 yesterday and opened today's trading at $2.
NEW YORK ( TheStreet) -- Shares of Towerstream Corporation (Nasdaq: TWER) were gapping up Monday morning with an open price 10.5% higher than Friday's closing price. The stock closed at $1.81 Friday and opened today's trading at $2. The average volume for Towerstream has been 429,300 shares per day over the past 30 days. Towerstream has a market cap of $100.4 million and is part of the technology sector and telecommunications industry. Shares are down 55.4% year to date as of the close of trading on Friday. Towerstream Corporation, a 4G service provider, delivers high-speed wireless Internet access to businesses in the United States. TheStreet Ratings rates Towerstream as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income and a generally disappointing performance in the stock itself. You can view the full Towerstream Ratings Report. Get more investment ideas from our investment research center. Interested in other stocks that are gapping up? Get free SMS text alerts sent to you when the action happens by texting UP to 95370 or select from multiple alert options.