Revenue Update on Straight Path Communications Inc(NYSEMKT:STRP)

Straight Path Communications Inc(NYSEMKT:STRP) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-market on Oct 7, 2016. Company reported revenue of $122.00K. Analysts estimated a revenue of $230.00K. Earnings per share were $-0.32. Analysts had estimated an EPS of $-0.15.

Straight Path Communications Inc (STRP) made into the market gainers list on Fridays trading session with the shares advancing 1.04% or 0.32 points. Due to strong positive momentum, the stock ended at $30.98, which is also near the day’s high of $31.91. The stock began the session at $30.91 and the volume stood at 83,649 shares. The 52-week high of the shares is $50 and the 52 week low is $7.62. The company has a current market capitalization of $382 M and it has 1,23,43,072 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On May 10, 2016, Zhouyue Pi (CHIEF TECHNOLOGY OFFICER) sold 1,000 shares at $40.00 per share price.Also, On Mar 24, 2016, William F Weld (director) sold 667 shares at $32.02 per share price.On Mar 18, 2016, Jonathan Rand (CFO) sold 2,133 shares at $31.99 per share price, according to the Form-4 filing with the securities and exchange commission.

Straight Path Communications Inc. 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 Company has two business segments: Straight Path Spectrum which holds leases and sells fixed wireless spectrum and Straight Path IP Group which holds intellectual property primarily related to communications over the Internet and the licensing and other businesses related to this intellectual property. The Company holds a range of licenses for fixed wireless spectrum (Spectrum) in the United States providing geographic coverage and total bandwidth in many areas. These include licenses which are known as the 39 gigahertz (GHz) band and Local Multipoint Distribution Service (LMDS or 28 GHz) band. Straight Path IP Group’s principal business is the acquisition development licensing and protection of intellectual property.

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