Shares of Towerstream Corporation (NASDAQ:TWER) ended Tuesday session in green amid volatile trading. The shares closed up +0.07 points or 5.43% at $1.36 with 580,438.00 shares getting traded. Post opening the session at $1.30, the shares hit an intraday low of $1.26 and an intraday high of $1.41 and the price vacillated in this range throughout the day. The company has a market cap of $9.64 million and the numbers of outstanding shares have been calculated to be 7.64 million shares.
Towerstream Corporation (TWER) on Sept. 22, 2016 provided guidance for the quarter ending September 30, 2016.
- Towerstream is on track to add 70 buildings to its On-Net footprint in Q3. This is a 70% increase over new building additions in Q2 and brings total On-Net buildings to 335 at the end of Q3.
- This brings the total number of businesses in the Company’s On-Net buildings to over 10,000, up 30% from 7,700 at close of Q2.
- The current On-Net building average monthly revenue is $1,102 and the current On-Net building penetration rate is 6%.
“There is a direct relationship in sales growth to the number of buildings On-Net,” stated Philip Urso, Interim Chief Executive Officer.
“Fixed-Wireless technology inherently provides a competitive advantage,” stated Arthur Giftakis, Chief Operating Officer. “The speed we can add buildings at our low cost gives us an unfair advantage over fiber and cable.”
Shares of Globalstar, Inc. (NYSEMKT:GSAT) ended Tuesday session in red amid volatile trading. The shares closed down -0.04 points or -3.20% at $1.21 with 2.99 million shares getting traded. Post opening the session at $1.25, the shares hit an intraday low of $1.17 and an intraday high of $1.25 and the price vacillated in this range throughout the day. The company has a market cap of $1.32 billion and the numbers of outstanding shares have been calculated to be 946.27 million shares.
Globalstar, Inc. (GSAT) on Sept. 13, 2016 announced that alpha testing of its next generation duplex device, Sat-Fi2, has commenced in preparation to fully launch the highly anticipated mass consumer and enterprise product in early 2017. Building upon its predecessor, Sat-Fi2 allows customers to use their smartphones and tablets to stay connected when beyond cellular. With the newest model and second-generation satellites and ground infrastructure in place, businesses and recreationalists will experience affordable, seamless connectivity unprecedented within the MSS industry. The smaller, more portable Hughes-based form factor will enable a wide range of enterprise and individual customers to economically leverage the benefits of Globalstar’s newest mobile satellite network.
By pairing one’s existing Wi-Fi-enabled device with the Sat-Fi2 app, users can talk, text, email, access the web, track their whereabouts, check weather and post to social media, regardless of cellular coverage. In an emergency, users can send an S.O.S. message to the GEOS International Emergency Response Coordination Center and have direct two-way communication with Search and Rescue services. Most notably, Sat-Fi2 users will be the first to leverage Globalstar’s second-generation network infrastructure, which means improved performance, enhanced capacity and data speeds of up to 72 kbps. In the near future, users will be able to access speeds of 128 kbps and up to 256 kbps once additional external antenna engineering is completed for second-generation products.