SBA Communications Corporation (SBAC) : Traders are bullish on SBA Communications Corporation (SBAC) as it has outperformed the S&P 500 by a wide margin of 1.9% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.26%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.77% in the last 1 week, and is up 1.77% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 1.17% and the 50-Day Moving Average is 2.97%.The 200 Day SMA reached 12.7%. SBA Communications Corp. is up 13.43% in the last 3-month period. Year-to-Date the stock performance stands at 10.28%.
SBA Communications Corporation (NASDAQ:SBAC): After opening at $114.75, the stock dipped to an intraday low of $114.75 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $116.33 and the buying power remained strong till the end. The stock closed at $115.87 for the day, a gain of 1.48% for the day session. The total traded volume was 426,686. The stocks close on the previous trading day was $114.18.
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.