Anterix (NASDAQ:ATEX) Hits New 1-Year High – Here’s Why

Anterix Inc. (NASDAQ:ATEX) reached a new 52-week high on Friday . The stock traded as high as $39.78 and last traded at $39.31, with a volume of 101409 shares. The stock had previously closed at $39.00.

Analyst Ratings Changes

A number of research analysts recently commented on ATEX shares. Zacks Research lowered shares of Anterix from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 5th. Weiss Ratings lowered shares of Anterix from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Anterix presently has an average rating of “Hold” and a consensus target price of $50.00.

Anterix Stock Up 0.2%

The stock has a market cap of $731.59 million, a price-to-earnings ratio of 8.98 and a beta of 0.76. The company has a 50 day simple moving average of $28.07 and a 200 day simple moving average of $23.60.

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 the consensus estimate 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 for the quarter, compared to analyst estimates of $1.47 million. As a group, analysts predict that Anterix Inc. will post -1.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Anterix

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

Institutional Trading of Anterix

Several hedge funds and other institutional investors have recently made changes to their positions in ATEX. Tower Research Capital LLC TRC increased its stake in shares of Anterix by 299.3% in the second 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 period. BNP Paribas Financial Markets grew its stake in shares of 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 acquired a new stake in Anterix in the third quarter valued at $57,000. Police & Firemen s Retirement System of New Jersey increased its holdings in Anterix by 52.2% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 3,069 shares of the company’s stock valued at $79,000 after purchasing an additional 1,052 shares during the period. Finally, Virtus Advisers LLC bought a new position in Anterix during the 3rd quarter worth $75,000. 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.