Anterix (NASDAQ:ATEX) Trading Up 6.3% – Should You Buy?

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

Wall Street Analysts Forecast Growth

ATEX has been the subject of several recent analyst reports. Weiss Ratings upgraded Anterix from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, March 11th. Zacks Research cut 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 two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $50.00.

Anterix Stock Performance

The company’s 50-day moving average price is $30.66 and its two-hundred day moving average price is $24.50. The stock has a market cap of $709.70 million, a PE ratio of 8.71 and a beta of 0.76.

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

Insider Activity

In other news, CEO Scott A. Lang acquired 1,160 shares of Anterix stock in a transaction dated Thursday, December 18th. The shares were purchased at an average cost of $21.61 per share, for a total transaction of $25,067.60. Following the transaction, the chief executive officer owned 8,260 shares of the company’s stock, valued at $178,498.60. This trade represents a 16.34% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 45.61% of the company’s stock.

Institutional Trading of Anterix

Hedge funds and other institutional investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. boosted its position in Anterix by 374,815.0% during the third quarter. SBI Securities Co. Ltd. now owns 74,983 shares of the company’s stock valued at $1,610,000 after buying an additional 74,963 shares during the period. Gamco Investors INC. ET AL lifted its holdings in Anterix by 35.0% in the 2nd quarter. Gamco Investors INC. ET AL now owns 273,425 shares of the company’s stock worth $7,013,000 after buying an additional 70,855 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. boosted its holdings in Anterix by 219.3% in the third quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 52,200 shares of the company’s stock valued at $1,121,000 after acquiring an additional 35,850 shares in the last quarter. AYAL Capital Advisors Ltd boosted its stake in shares of 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 purchasing an additional 141,500 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Anterix by 8.7% during the 2nd quarter. Geode Capital Management LLC now owns 383,557 shares of the company’s stock valued at $9,840,000 after acquiring an additional 30,575 shares in the last quarter. Hedge funds and other 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.