Anterix (NASDAQ:ATEX) Hits New 12-Month High – What’s Next?

Anterix Inc. (NASDAQ:ATEX)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $44.05 and last traded at $43.8340, with a volume of 15972 shares traded. The stock had previously closed at $42.60.

Analyst Upgrades and Downgrades

A number of research firms have commented 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 “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $50.00.

Anterix Stock Performance

The company has a market capitalization of $838.17 million, a P/E ratio of 10.29 and a beta of 0.70. The business’s fifty day simple moving average is $37.98 and its 200-day simple moving average is $27.67.

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

Institutional Trading of Anterix

A number of large investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its holdings 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 worth $3,027,000 after buying an additional 599 shares during the last quarter. AlphaQuest LLC increased its holdings in shares of Anterix by 12.9% in the 3rd quarter. AlphaQuest LLC now owns 5,435 shares of the company’s stock worth $117,000 after buying an additional 619 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Anterix by 12.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 5,760 shares of the company’s stock worth $148,000 after buying an additional 637 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 worth $182,000 after buying an additional 1,029 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings 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 worth $42,000 after buying an additional 1,233 shares during the last quarter. 87.67% of the stock is currently owned by institutional investors.

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.