Anterix (NASDAQ:ATEX) Hits New 52-Week High – Still a Buy?

Anterix Inc. (NASDAQ:ATEX) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $50.45 and last traded at $49.7310, with a volume of 317845 shares changing hands. The stock had previously closed at $49.59.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Zacks Research lowered Anterix from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. Weiss Ratings raised shares of Anterix from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $50.00.

Anterix Price Performance

The firm has a market cap of $946.80 million, a P/E ratio of 11.62 and a beta of 0.86. The company’s 50 day moving average is $39.95 and its two-hundred day moving average is $28.96.

Anterix (NASDAQ:ATEX) last posted its quarterly earnings results on Wednesday, February 11th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $1.57 million during the quarter, compared to analysts’ expectations of $1.47 million. Research analysts predict that Anterix Inc. will post -1.53 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its holdings in Anterix by 299.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company’s stock valued at $42,000 after buying an additional 1,233 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Anterix during the 3rd quarter valued at about $57,000. BNP Paribas Financial Markets increased its stake in Anterix by 119.3% in the second quarter. BNP Paribas Financial Markets now owns 2,404 shares of the company’s stock valued at $62,000 after acquiring an additional 1,308 shares during the period. Fifth Third Bancorp bought a new stake in Anterix in the first quarter valued at about $64,000. Finally, Virtus Advisers LLC acquired a new position in Anterix in the third quarter worth about $75,000. 87.67% of the stock is owned by institutional investors.

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.