At 10:30am Tuesday, Townsquare Media shares were down, hitting $7.78 a share.
Then, in the last hour of trading, shares of TSQ surged on the NYSE.
The result: a four-cent gain, putting the stock back at the $8 level.
An 11-cent increase started just before 3pm, but volume was slightly lower than average with some 19,790 shares traded.
Wall Street views TSQ as undervalued, and set a $10.46 1-year target price on the issue.
Last week, Simply Wall St. — a popular investor blog — declared that Townsquare Media “is still trading at a fairly cheap price.”
In fact, their valuation model shows that the intrinsic value for the stock is $15.93. “This indicates a potential opportunity to buy low, although there may be another chance to buy again in the future,” Simply Wall St. says. “This is because Townsquare Media’s beta (a measure of share price volatility) is high, meaning its price movements will be exaggerated relative to the rest of the market. If the market is bearish, the company’s shares will likely fall by more than the rest of the market, providing a prime buying opportunity.”