Rodman & Renshaw Revises Estimates on Towerstream Corporation

Rodman & Renshaw has published a research report on Towerstream Corporation TWER In the report, Rodman & Renshaw wrote, "Towerstream (TWER, Market Outperform) reported second quarter 2011 revenue of $6.6 million, up 10.5% Q/Q and 35% Y/Y , breezing past our estimates of $6.5 million. Excluding One Velocity acquisition, revenues were up 7% Q/Q. GAAP loss of $1.3 million ($0.03 per share) was lower than our forecasted $1.6 million ($0.04 per share)." Rodman & Renshaw rated Towerstream a Market Outperform with a price target of $6.00. Towerstream closed Monday at $3.51.