The stock of Straight Path Communications Inc (NYSEMKT:STRP) is a huge mover today! About 92,195 shares traded hands. Straight Path Communications Inc (NYSEMKT:STRP) has declined 26.83% since March 7, 2016 and is downtrending. It has underperformed by 34.42% the S&P500.
The move comes after 9 months positive chart setup for the $352.39M company. It was reported on Oct, 10 by Barchart.com. We have $65.25 PT which if reached, will make NYSEMKT:STRP worth $451.06M more.
Analysts await Straight Path Communications Inc (NYSEMKT:STRP) to report earnings on October, 12. They expect $-0.15 earnings per share, down 650.00% or $0.13 from last year’s $-0.02 per share. After $-0.15 actual earnings per share reported by Straight Path Communications Inc for the previous quarter, Wall Street now forecasts 0.00% EPS growth.
According to Zacks Investment Research, “Straight Path Communications Inc. offers leases and markets fixed wireless spectrum licenses, through its subsidiary, primarily in the United States. The company provides spectrum leasing and related services to telecommunications providers and other companies as well as point-to-point and point-to-multipoint wireless broadband digital telecommunications services to its customers. Straight Path Communications Inc. is based in Glen Allen, United States.”
Insitutional Activity: The institutional sentiment increased to 1.7 in 2016 Q2. Its up 0.53, from 1.17 in 2016Q1. The ratio increased, as 6 funds sold all Straight Path Communications Inc shares owned while 17 reduced positions. 13 funds bought stakes while 26 increased positions. They now own 3.51 million shares or 9.27% more from 3.21 million shares in 2016Q1.
Moreover, Morgan Stanley has 0% invested in Straight Path Communications Inc (NYSEMKT:STRP) for 8,740 shares. Hap Trading Limited Liability last reported 14,000 shares in the company. Gmt last reported 0.02% of its portfolio in the stock. Rhumbline Advisers owns 9,825 shares or 0% of their US portfolio. The New York-based Oppenheimer Com Inc has invested 0.01% in Straight Path Communications Inc (NYSEMKT:STRP). Highbridge Capital Mngmt Ltd accumulated 0.01% or 16,477 shares. Blackrock Institutional Tru Na has 264,313 shares for 0% of their US portfolio. Wells Fargo Mn last reported 6,243 shares in the company. The Kansas-based Creative Planning has invested 0% in Straight Path Communications Inc (NYSEMKT:STRP). Cwm Limited Liability Corp holds 22 shares or 0% of its portfolio. Barclays Public Limited accumulated 0% or 1,204 shares. New York State Common Retirement Fund has 0% invested in the company for 9,500 shares. Teacher Retirement Systems Of Texas has invested 0% of its portfolio in Straight Path Communications Inc (NYSEMKT:STRP). Aqr Capital Management Ltd Limited Liability Company has invested 0% of its portfolio in Straight Path Communications Inc (NYSEMKT:STRP). Tiaa Cref Management Ltd Llc accumulated 0% or 30,323 shares.
Insider Transactions: Since May 9, 2016, the stock had 0 buys, and 1 insider sale for $40,000 net activity. PI ZHOUYUE sold $40,000 worth of stock.
More notable recent Straight Path Communications Inc (NYSEMKT:STRP) news were published by: Businesswire.com which released: “Straight Path Communications Reports Results for Fourth Quarter and Year End …” on October 07, 2016, also Marketwatch.com with their article: “Straight Path Communications Inc. Cl B” published on August 14, 2011, Businesswire.com published: “Straight Path Communications Issues a Statement in Response to Report Issued” on October 29, 2015. More interesting news about Straight Path Communications Inc (NYSEMKT:STRP) were released by: Businesswire.com and their article: “Straight Path Communications Issues Statement to Investors” published on November 09, 2015 as well as Quotes.Wsj.com‘s news article titled: “DOW JONES, A NEWS CORP COMPANY” with publication date: August 03, 2013.
STRP Company Profile
Straight Path Communications Inc. (SPCI), incorporated on April 4, 2013, is a communications asset company. The Company’s businesses consist of interest in Straight Path Spectrum, Inc. (Straight Path Spectrum) and Straight Path IP Group, Inc. (Straight Path IP Group). The Firm has two business divisions: Straight Path Spectrum and Straight Path IP Group. It provides licenses for communications over the Internet to Voice over Internet Protocol (VoIP) providers, and services and products that allow for the transmission of data over the Internet. Through Its microwave bandwidth licenses and intellectual property (IP) portfolios, it provides the critical missing piece for its lessees and licensees to revolutionize communication and data transmission.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.