Anterix (NASDAQ:ATEX) Shares Down 4.8% – Should You Sell?

Anterix Inc. (NASDAQ:ATEX) was down 4.8% during trading on Wednesday . The stock traded as low as $32.00 and last traded at $32.1950. Approximately 395,215 shares changed hands during trading, an increase of 6% from the average daily volume of 372,568 shares. The stock had previously closed at $33.82.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. 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 research report on Wednesday, February 11th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $50.00.

Anterix Price Performance

The business’s fifty day moving average price is $24.61 and its two-hundred day moving average price is $22.38. The stock has a market capitalization of $617.72 million, a PE ratio of 7.58 and a beta of 0.86.

Anterix (NASDAQ:ATEX) last issued its quarterly earnings results on Wednesday, February 11th. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.22. The company had revenue of $1.57 million during the quarter, compared to analysts’ expectations 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, equities research analysts anticipate that Anterix Inc. will post -1.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Anterix news, CEO Scott A. Lang acquired 1,160 shares of the firm’s stock in a transaction on Thursday, December 18th. The stock was acquired at an average cost of $21.61 per share, for a total transaction of $25,067.60. Following the purchase, the chief executive officer owned 8,260 shares in the company, valued at approximately $178,498.60. The trade was a 16.34% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 45.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Anterix

Several hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC raised its stake in shares of Anterix by 299.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company’s stock valued at $42,000 after buying an additional 1,233 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in Anterix during the second quarter worth about $48,000. Quantbot Technologies LP purchased a new position in Anterix during the third quarter valued at approximately $57,000. BNP Paribas Financial Markets raised its position in Anterix by 119.3% during the second quarter. BNP Paribas Financial Markets now owns 2,404 shares of the company’s stock valued at $62,000 after acquiring an additional 1,308 shares in the last quarter. Finally, Virtus Advisers LLC acquired a new position in Anterix in the third quarter valued at approximately $75,000. 87.67% of the stock is owned by hedge funds and other institutional investors.

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.