Anterix (NASDAQ:ATEX) Sets New 1-Year High – Should You Buy?

Anterix Inc. (NASDAQ:ATEX) hit a new 52-week high on Thursday . The company traded as high as $108.61 and last traded at $108.21, with a volume of 530596 shares. The stock had previously closed at $102.94.

Analysts Set New Price Targets

Several analysts recently weighed in on ATEX shares. B. Riley Financial cut Anterix from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $44.00 to $69.00 in a report on Thursday, June 4th. Wall Street Zen upgraded Anterix from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, Weiss Ratings raised Anterix from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $59.50.

Anterix Price Performance

The business’s 50-day moving average price is $65.48 and its two-hundred day moving average price is $43.27. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 22.36 and a beta of 0.82.

Insider Activity

In other Anterix news, Director Mahvash Yazdi sold 7,000 shares of Anterix stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $80.00, for a total value of $560,000.00. Following the completion of the transaction, the director directly owned 19,407 shares of the company’s stock, valued at $1,552,560. The trade was a 26.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Elena Marquez sold 4,291 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $79.50, for a total value of $341,134.50. Following the sale, the chief financial officer owned 18,387 shares of the company’s stock, valued at approximately $1,461,766.50. The trade was a 18.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 124,109 shares of company stock worth $10,174,158. 40.05% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Anterix

Institutional investors and hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC grew its stake in Anterix by 63.7% during the first quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock worth $36,000 after buying an additional 363 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings 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 worth $42,000 after acquiring an additional 1,233 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Anterix during the 3rd quarter worth approximately $57,000. BNP Paribas Financial Markets boosted its position 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 worth $62,000 after acquiring an additional 1,308 shares in the last quarter. Finally, Fifth Third Bancorp acquired a new position in Anterix during the first quarter valued at approximately $64,000. Institutional investors own 87.67% of the company’s stock.

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.