Anterix (NASDAQ:ATEX) Issues Earnings Results

Anterix (NASDAQ:ATEX) posted its earnings results on Tuesday. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.05, FiscalAI reports. The company had revenue of $1.96 million during the quarter, compared to the consensus estimate of $2.05 million. Anterix had a net margin of 933.03% and a negative return on equity of 10.65%.

Anterix Stock Down 6.6%

Shares of NASDAQ:ATEX traded down $5.31 during trading on Tuesday, reaching $75.47. The stock had a trading volume of 323,967 shares, compared to its average volume of 368,608. The stock has a fifty day simple moving average of $81.87 and a two-hundred day simple moving average of $66.70. Anterix has a 52 week low of $17.82 and a 52 week high of $113.00. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 21.56 and a beta of 0.87.

Insiders Place Their Bets

In other Anterix news, Chairman Thomas R. Kuhn sold 10,000 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $88.85, for a total transaction of $888,500.00. Following the completion of the transaction, the chairman owned 17,731 shares of the company’s stock, valued at $1,575,399.35. The trade was a 36.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director William Heard sold 46,400 shares of the business’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $90.11, for a total transaction of $4,181,104.00. Following the transaction, the director directly owned 1,670,338 shares of the company’s stock, valued at approximately $150,514,157.18. This represents a 2.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 124,841 shares of company stock worth $10,975,765 in the last ninety days. 40.05% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ATEX has been the subject of a number of recent research reports. Clear Str upgraded shares of Anterix to a “strong-buy” rating in a report on Monday, July 27th. Weiss Ratings lowered Anterix from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, October 26th. Wall Street Zen lowered Anterix from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. DA Davidson set a $161.00 price target on Anterix in a research report on Friday, August 21st. Finally, JPMorgan Chase & Co. decreased their price target on Anterix from $133.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $120.00.

Anterix Company Profile

Anterix Inc. provides licensed wireless spectrum for private broadband networks, primarily serving electric, gas and water utilities and other critical-infrastructure organizations. Its business focuses on making 900 MHz spectrum available to customers that want dedicated communications networks for operational needs such as grid monitoring, automation and resilience. The company’s spectrum holdings cover areas across the United States. Anterix works with utilities and technology partners to support the development of private LTE networks, offering spectrum access and related planning and ecosystem support rather than operating a public mobile network.