Boston, MA 07/17/2013 (wallstreetpr) – On Tuesday, shares of NTELOS Holdings Corp. (NASDAQ:NTLS) closed at $18.60 up by 4.44%. The stock opened at $17.85 and reached an intraday high of $20.47 before closing at the specified level. Over 817,895 shares were traded in the trading session of July 16 which is very high as compared to average volume of 152,464 shares in last 90 trading sessions.
The impact of AT&T Inc.’s (T) deal to grab Leap Wireless for $1.2 billion in cash is being shown with the stocks of other potential targets like NTELOS Holdings Corp. consolidating position. The mentioned deal is being observed as a key to the soaring in stock prices of other players in the wireless market. All the deals of these potential players including NTELOS Holdings Corp. are being taken as a key strategy to consolidate their positions in the market before selling themselves.
NTELOS Holdings Corp., although a small company with just 451,000 total subscribers at the end of March and a market value of $360 million is being viewed as a key player in the wireless market due to their existing deal to provide sprint service in Western Virginia and working with Dish Network Corp. (DISH) to co-develop a fixed-mobile broadband-service within its coverage territory.
NTELOS Holdings Corp. is being targeted as company is increasing its market value by striking major deals in the market. Chief Executive James Hyde has, however, denied that the company has been in deal talks or is attempting to sell itself.
The recent development to add NTELOS Holdings Corp. to the Russell Microcap Index is a step to improve both retail and wholesale businesses to drive growth and maximize value for all key stakeholders in the Company.
