Anterix (NASDAQ:ATEX) Upgraded at Zacks Research

Anterix (NASDAQ:ATEX) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. decreased their target price on shares of Anterix from $67.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, October 17th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Anterix in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Anterix currently has an average rating of “Moderate Buy” and a consensus price target of $50.00.

Anterix Stock Performance

NASDAQ:ATEX opened at $22.42 on Wednesday. The business’s fifty day moving average is $20.93 and its 200 day moving average is $21.89. The firm has a market cap of $419.64 million, a price-to-earnings ratio of 4.39 and a beta of 0.86. Anterix has a 52-week low of $17.58 and a 52-week high of $42.91.

Anterix (NASDAQ:ATEX) last issued its earnings results on Wednesday, November 12th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.65) by $0.51. Anterix had a negative return on equity of 14.95% and a net margin of 1,614.08%.The business had revenue of $1.55 million during the quarter, compared to the consensus estimate of $1.43 million. Equities analysts predict that Anterix will post -1.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Scott A. Lang purchased 2,450 shares of the stock in a transaction on Monday, December 8th. The shares were acquired at an average price of $20.41 per share, for a total transaction of $50,004.50. Following the completion of the transaction, the chief executive officer directly owned 7,100 shares of the company’s stock, valued at approximately $144,911. This trade represents a 52.69% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, insider Gena L. Ashe sold 6,564 shares of Anterix stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $21.07, for a total value of $138,303.48. Following the sale, the insider directly owned 13,366 shares of the company’s stock, valued at approximately $281,621.62. This trade represents a 32.94% decrease in their position. The disclosure for this sale is available in the SEC filing. 45.61% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ATEX. Goldman Sachs Group Inc. grew its stake in shares of Anterix by 17.7% during the first quarter. Goldman Sachs Group Inc. now owns 124,706 shares of the company’s stock valued at $4,564,000 after buying an additional 18,771 shares during the last quarter. AYAL Capital Advisors Ltd boosted its holdings in Anterix by 143.4% during the 2nd quarter. AYAL Capital Advisors Ltd now owns 240,171 shares of the company’s stock valued at $6,160,000 after acquiring an additional 141,500 shares during the period. Gamco Investors INC. ET AL grew its position in Anterix by 35.0% during the 2nd quarter. Gamco Investors INC. ET AL now owns 273,425 shares of the company’s stock worth $7,013,000 after acquiring an additional 70,855 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Anterix in the 2nd quarter worth approximately $1,588,000. Finally, Geode Capital Management LLC boosted its stake in shares of Anterix by 8.7% during the second quarter. Geode Capital Management LLC now owns 383,557 shares of the company’s stock valued at $9,840,000 after purchasing an additional 30,575 shares during the period. 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.