Clearwire (CLWR) shares near a bottom?

Bottom fishing is deadly these days with stocks, but one of the best all around wireless internet and VoIP deals is sold by Clearwire Corp (NASDAQ:CLWR).  Shares of CLWR have been beat down to $9.28 a share, way below the analysts covering the stock.

What's to like?  How about the company's conservative revenue model compared with the company's guidance.

What's not to like? A 69% Short Interest on CLWR shares. Massive short sellers are all over Clearwire. How about long-term funding, where will the money come from?

On July 17th, Analysts at RBC Capital Markets initiated coverage of Clearwire Corp (CLWR) with an "outperform" rating. The target price is set to $17.

Masters Sponsor - Advertise with Us

In a research note dated July 15th, RBC mentioned that Clearwire’s initial 25 markets are exhibiting healthy performance, with positive penetration and margin levels. Clearwire’s planned joint venture with Sprint and a strategic investment of $3.2 billion from the leading technology/media companies provides the company with ample funding for a large-scale build-out, the analysts say.

RBC Capital has Clearwire pegged for generating revenue of $212 million this year and $472 million next year, with EBITDA losses of $395 million this year and $459 million next year. Expectations are for cap ex of $303 million in 2008 and $1.07 billion in 2009.

Fellow Masters, there's no doubt CLWR shares could go lower, but the price is getting very low and never underestimate CEO Craig McCaw. Any negative press about the Sprint (S) nationwide WiMax deal could kill the stock. 

The 52-week -69% return on Clearwire shares matches the short interest %, what are the odds?

Other analyst take: