Anterix (NASDAQ:ATEX) Reaches New 1-Year High – Here’s Why

Anterix Inc. (NASDAQ:ATEX)’s share price reached a new 52-week high on Thursday . The stock traded as high as $40.67 and last traded at $38.11, with a volume of 361535 shares trading hands. The stock had previously closed at $37.76.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ATEX. Zacks Research downgraded shares of Anterix from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 5th. Weiss Ratings raised shares of Anterix from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, March 11th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $50.00.

Anterix Stock Down 1.6%

The business has a 50-day simple moving average of $31.67 and a 200-day simple moving average of $24.81. The stock has a market cap of $736.96 million, a P/E ratio of 9.04 and a beta of 0.76.

Anterix (NASDAQ:ATEX) last posted its quarterly earnings data on Wednesday, February 11th. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.22. Anterix had a negative return on equity of 12.26% and a net margin of 1,370.92%.The business had revenue of $1.57 million for the quarter, compared to analyst estimates of $1.47 million. On average, analysts predict that Anterix Inc. will post -1.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Anterix

A number of institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its stake in shares of Anterix by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 138,677 shares of the company’s stock valued at $3,027,000 after buying an additional 599 shares in the last quarter. AlphaQuest LLC lifted its stake in Anterix by 12.9% during the third quarter. AlphaQuest LLC now owns 5,435 shares of the company’s stock worth $117,000 after purchasing an additional 619 shares during the period. Russell Investments Group Ltd. boosted its holdings in Anterix by 12.4% during the second quarter. Russell Investments Group Ltd. now owns 5,760 shares of the company’s stock valued at $148,000 after purchasing an additional 637 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Anterix by 17.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,084 shares of the company’s stock valued at $182,000 after purchasing an additional 1,029 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey grew its stake in shares of Anterix by 52.2% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 3,069 shares of the company’s stock valued at $79,000 after purchasing an additional 1,052 shares during the period. Institutional investors and hedge funds own 87.67% of the company’s stock.

About Anterix

Anterix, Inc is a specialized telecommunications company focused on delivering private broadband networks for utilities and other critical infrastructure industries. The company owns and operates dedicated 900 MHz spectrum that enables reliable, secure and high-performance wireless communications to support grid modernization, smart metering, distribution automation and other mission-critical applications. By leveraging this spectrum, Anterix helps electric, water and gas utilities deploy advanced communications capabilities to enhance operational efficiency and resiliency.

At the core of Anterix’s offering is its licensed 900 MHz spectrum, which provides superior propagation characteristics compared with unlicensed options and allows for cost-effective coverage over expansive service territories.