Shares of SBA Communications Corporation (SBAC) Sees Large Outflow of Money

SBA Communications Corporation (SBAC) : Money flow in the SBA Communications Corporation (SBAC) stock was negative (4.98 million) on Thursday, which shows that the investors used the strength in the stock price to reduce their holdings. The total traded value on upticks was $37.06 million, compared to $42.04 million on downticks. The total uptick to downtick ratio was 0.88, indicating the underlying weakness in the stock. Even in block trades, money flow was negative ($5.61 million), indicating selling on the strength. The transaction value during uptick in block trades was $5.91 million. Downtick transaction value in block trades amounted to $11.51 million, indicating persistent selling. The uptick to downtick ratio was 0.51. SBA Communications Corporation (SBAC) traded $0.97 higher at $110.62 gaining 0.88% over the previous days close.


SBA Communications Corporation (SBAC) : The consensus price target for SBA Communications Corporation (SBAC) is $120.46 for the short term with a standard deviation of $9.47. The most optimist securities analyst among the 11 who monitor the stock believes that the stock can reach $133, however, the pessimist price target for the company is $102. The stock has recorded a 20-day Moving Average of 6.51% and the 50-Day Moving Average is 8.53%.

SBA Communications Corporation (NASDAQ:SBAC): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $110.23 and $109.21 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $111.96. The buying momentum continued till the end and the stock did not give up its gains. It closed at $110.62, notching a gain of 0.88% for the day. The total traded volume was 1,529,406 . The stock had closed at $109.65 on the previous day.

SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company operated through two segments, namely site leasing and site development. The Companys primary business line is its site leasing business. In its site leasing business, the Company leases antenna space to wireless service providers on towers that it owns or operates, and manage rooftop and tower sites for property owners under various contractual arrangements. It also managed or leased approximately 5,000 actual or potential towers. Its other business line is its site development business, through which it assists wireless service providers in developing and maintaining their own wireless service networks. The Companys principal operations are in the United States and its territories. In addition, it owns and operates towers in Canada, Central America, and South America.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.