Anterix (NASDAQ:ATEX) Reaches New 52-Week High – What’s Next?

Anterix Inc. (NASDAQ:ATEX) shares hit a new 52-week high on Monday . The company traded as high as $71.79 and last traded at $67.0750, with a volume of 67282 shares. The stock had previously closed at $66.64.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ATEX shares. B. Riley Financial cut shares of Anterix from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $44.00 to $69.00 in a research report on Thursday. Weiss Ratings upgraded shares of Anterix from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, April 21st. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $59.50.

Anterix Stock Performance

The stock has a market cap of $1.27 billion, a P/E ratio of 15.51 and a beta of 0.95. The firm has a 50-day moving average price of $50.29 and a 200-day moving average price of $35.57.

Hedge Funds Weigh In On Anterix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATEX. Jefferies Financial Group Inc. purchased a new stake in shares of Anterix during the fourth quarter valued at $9,922,000. Millennium Management LLC boosted its holdings in Anterix by 1,153.1% in the fourth quarter. Millennium Management LLC now owns 439,946 shares of the company’s stock worth $9,604,000 after purchasing an additional 404,838 shares during the last quarter. Beartown Capital Management LLC bought a new stake in Anterix in the 4th quarter worth approximately $3,165,000. Gamco Investors INC. ET AL raised its stake in Anterix by 32.0% during the 4th quarter. Gamco Investors INC. ET AL now owns 422,470 shares of the company’s stock valued at $9,223,000 after buying an additional 102,400 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Anterix by 30.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 424,856 shares of the company’s stock valued at $16,223,000 after buying an additional 99,933 shares during the period. 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.