Anterix (NASDAQ:ATEX) Reaches New 1-Year High – Should You Buy?

Anterix Inc. (NASDAQ:ATEX)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $64.61 and last traded at $63.17, with a volume of 32820 shares changing hands. The stock had previously closed at $63.57.

Analyst Upgrades and Downgrades

Several research firms recently commented on ATEX. Weiss Ratings upgraded shares of Anterix from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, April 21st. Zacks Research downgraded shares of Anterix from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 5th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Anterix currently has a consensus rating of “Hold” and a consensus target price of $50.00.

Anterix Trading Down 0.9%

The stock has a market cap of $1.18 billion, a P/E ratio of 14.53 and a beta of 0.86. The business has a 50-day simple moving average of $46.49 and a 200 day simple moving average of $33.28.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its position in shares of Anterix by 17.2% in the 1st quarter. Bank of America Corp DE now owns 167,781 shares of the company’s stock worth $6,408,000 after purchasing an additional 24,657 shares during the period. Royal Bank of Canada increased its position in shares of Anterix by 151.2% during the first quarter. Royal Bank of Canada now owns 3,034 shares of the company’s stock worth $116,000 after buying an additional 1,826 shares during the period. Quantinno Capital Management LP increased its position in shares of Anterix by 64.6% during the first quarter. Quantinno Capital Management LP now owns 15,619 shares of the company’s stock worth $596,000 after buying an additional 6,132 shares during the period. Gamco Investors INC. ET AL raised its stake in Anterix by 0.8% during the first quarter. Gamco Investors INC. ET AL now owns 425,820 shares of the company’s stock worth $16,262,000 after buying an additional 3,350 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Anterix by 30.8% during the first quarter. Dimensional Fund Advisors LP now owns 424,856 shares of the company’s stock worth $16,223,000 after buying an additional 99,933 shares during the last quarter. Institutional investors 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.