UPDATE: Dominick & Dominick Downgrades Towerstream to Neutral on Disappointing Guidance

Dominick & Dominick downgraded Towerstream Corporation

from Buy to Neutral. Dominick & Dominick analyst Greg Scott wrote, "[T]he company disappointed on its outlook as the Q1 2013 guidance does not include any Wi-Fi revenue (what we believe investors were waiting for), which is continuing to take longer than expected and is just one of many recent investor setbacks for the company. While we continue to believe TWER is uniquely positioned to help solve the capacity issues with its carrier class Wi-Fi offload network and Backhaul capabilities, with Wi-Fi offload revenue continuing to get pushed to the right and with the timing and future of Wi-Fi offload/small cell revenue uncertain, we are downgrading TWER to Neutral." Towerstream Corporation closed at $2.71 on Monday.