Anterix’s (ATEX) “Neutral” Rating Reaffirmed at B. Riley Financial

Anterix (NASDAQ:ATEX)‘s stock had its “neutral” rating reissued by analysts at B. Riley Financial in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $69.00 price objective on the stock, up from their prior price objective of $44.00. B. Riley Financial’s target price points to a potential upside of 8.30% from the company’s current price.

Several other equities analysts also recently commented on ATEX. Weiss Ratings raised shares of Anterix from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, April 21st. Zacks Research cut shares of Anterix from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $59.50.

Anterix Price Performance

Shares of NASDAQ:ATEX opened at $63.71 on Thursday. The business has a fifty day moving average price of $49.18 and a two-hundred day moving average price of $34.93. The company has a market capitalization of $1.19 billion, a PE ratio of 14.83 and a beta of 0.95. Anterix has a 1 year low of $17.58 and a 1 year high of $68.31.

Institutional Trading of Anterix

Several hedge funds have recently modified their holdings of ATEX. Parallel Advisors LLC grew its position in shares of Anterix by 63.7% in the 1st quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock worth $36,000 after buying an additional 363 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Anterix by 299.3% during 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 in the last quarter. Quantbot Technologies LP acquired a new position in shares of Anterix during the third quarter worth $57,000. BNP Paribas Financial Markets lifted its holdings in shares of Anterix by 119.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,404 shares of the company’s stock valued at $62,000 after purchasing an additional 1,308 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new stake in shares of Anterix in the 1st quarter worth $64,000. 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.