Straight Path Communications Inc (STRP) Shares Briefly Halted After Major Volume Spike


Straight Path Communications Inc (NYSEMKT:STRP) shares were briefly halted following a major volume and share price spike which caused the stock to jump from $10.29 to $13.10 in a matter of under 15 minutes. It took only 4,000 shares to move the stock a couple of dollars at one point during the spike.

The reasoning for this spike is unknown, with investors on social media speculating that something must be coming, or ‘someone must know something.’ After trading reopened moments ago shares dropped down a bit to $12.48. As of publishing this story no official news has been released by the company. We will keep our readers posted if any news does happen to reveal itself.The stock is up 21.86% or $2.37 following the news, hitting $13.21 per share. About 384,426 shares traded hands. STRP has declined 48.03% since April 29, 2015 and is downtrending. It has underperformed the S&P500 by 47.83%.

The institutional sentiment increased to 2.79 in Q2 2015. It’s up 1.83, from 0.96 in 2015Q1. The ratio improved, as 7 funds sold all their Straight Path Communications Inc shares they owned while 12 reduced their positions. 30 funds bought stakes while 23 increased their total positions. Institutions now own 3.84 million shares which is 34.61% more than the previous share count of 2.85 million in 2015Q1.

Farmstead Capital Management Llc holds 1.49% of its total portfolio in Straight Path Communications Inc, equating to 90,312 shares. Tcs Capital Management Llc owns 76,500 shares representing 1.27% of their total US portfolio. Moreover, Archer Capital Management L.P. has 0.93% of their total portfolio invested in the company, equating to 223,397 shares. The New York-based National Asset Management Inc. has a total of 0.83% of their portfolio invested in the stock. Thompson Davis & Co. Inc., a Virginia-based fund reported 13,750 shares owned.

Since March 18, 2015, the stock had 0 insider purchases, and 3 sales for a total of $543,098 in net activity. Pi Zhouyue sold 77 shares worth $3,128. Jonas Davidi sold 6,000 shares worth $240,000. Weld William F sold 8,000 shares worth $161,215.

Straight Path Communications Inc. is a communications asset company. The company has a market cap of $168.14 million. The Company’s businesses consist of interest in Straight Path Spectrum, Inc. and Straight Path IP Group, Inc. (Straight Path IP Group). It currently has negative earnings. The Firm has two business divisions: 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.