Anterix (NASDAQ:ATEX) Shares Up 6.3% – What’s Next?

Anterix Inc. (NASDAQ:ATEX) shares were up 6.3% during mid-day trading on Wednesday . The stock traded as high as $39.66 and last traded at $40.1380. Approximately 42,769 shares changed hands during trading, a decline of 89% from the average daily volume of 385,810 shares. The stock had previously closed at $37.76.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ATEX shares. Weiss Ratings upgraded shares of Anterix from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, March 11th. Zacks Research lowered shares of Anterix from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $50.00.

Anterix Stock Performance

The firm has a market capitalization of $748.64 million, a price-to-earnings ratio of 9.19 and a beta of 0.76. The company has a 50-day moving average price of $31.33 and a 200-day moving average price of $24.70.

Anterix (NASDAQ:ATEX) last issued its earnings results on Wednesday, February 11th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.57) by $0.22. The business had revenue of $1.57 million for the quarter, compared to analyst estimates of $1.47 million. Anterix had a negative return on equity of 12.26% and a net margin of 1,370.92%. On average, research analysts expect that Anterix Inc. will post -1.53 earnings per share for the current fiscal year.

Institutional Trading of Anterix

Institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its holdings in shares of Anterix by 299.3% in 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 in the last quarter. BNP Paribas Financial Markets raised its stake in 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. Quantbot Technologies LP purchased a new stake in Anterix in the third quarter valued at $57,000. Police & Firemen s Retirement System of New Jersey lifted its position 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 acquiring an additional 1,052 shares during the last quarter. Finally, Virtus Advisers LLC acquired a new position in Anterix in the third quarter valued at $75,000. Hedge funds and other institutional investors own 87.67% of the company’s stock.

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.