Anterix (NASDAQ:ATEX) Sets New 12-Month High – Here’s What Happened

Anterix Inc. (NASDAQ:ATEX)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $40.94 and last traded at $40.4870, with a volume of 96086 shares trading hands. The stock had previously closed at $38.52.

Analyst Ratings Changes

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

Anterix Stock Performance

The firm’s 50-day moving average is $32.28 and its two-hundred day moving average is $25.07. The stock has a market cap of $757.95 million, a P/E ratio of 9.30 and a beta of 0.76.

Anterix (NASDAQ:ATEX) last announced its quarterly earnings data on Wednesday, February 11th. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.22. The firm had revenue of $1.57 million for the quarter, compared to analyst estimates of $1.47 million. Anterix had a negative return on equity of 12.26% and a net margin of 1,370.92%. As a group, research analysts forecast that Anterix Inc. will post -1.53 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its stake in shares of 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 purchasing an additional 1,233 shares during the last quarter. Quantbot Technologies LP bought a new position in Anterix in the third quarter valued at approximately $57,000. BNP Paribas Financial Markets grew its holdings in Anterix by 119.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,404 shares of the company’s stock worth $62,000 after acquiring an additional 1,308 shares during the period. Virtus Advisers LLC acquired a new stake in Anterix during the 3rd quarter worth $75,000. Finally, Police & Firemen s Retirement System of New Jersey raised its position in shares of Anterix by 52.2% during 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 acquiring an additional 1,052 shares during the last quarter. 87.67% of the stock is currently owned by institutional investors and hedge funds.

Anterix Company Profile

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.