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

Anterix Inc. (NASDAQ:ATEX) shares reached a new 52-week high during trading on Monday . The company traded as high as $41.40 and last traded at $40.6550, with a volume of 25751 shares changing hands. The stock had previously closed at $40.39.

Analyst Ratings Changes

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

Anterix Trading Up 1.9%

The company has a market capitalization of $770.86 million, a P/E ratio of 9.46 and a beta of 0.70. The business’s fifty day moving average price is $35.24 and its 200-day moving average price is $26.33.

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

Institutional Trading of Anterix

Hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its stake in Anterix by 299.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company’s stock worth $42,000 after purchasing an additional 1,233 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Anterix by 119.3% in the second quarter. BNP Paribas Financial Markets now owns 2,404 shares of the company’s stock worth $62,000 after purchasing an additional 1,308 shares during the last quarter. Quantbot Technologies LP bought a new stake in Anterix in the third quarter worth $57,000. Virtus Advisers LLC bought a new stake in Anterix in the third quarter worth $75,000. Finally, Toronto Dominion Bank bought a new stake in Anterix in the fourth quarter worth $94,000. 87.67% of the stock is 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.