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

Anterix Inc. (NASDAQ:ATEX)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $40.94 and last traded at $40.4870, with a volume of 96086 shares. The stock had previously closed at $38.52.

Analyst Upgrades and Downgrades

Several research firms recently commented on ATEX. Weiss Ratings upgraded shares of Anterix from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, March 11th. Zacks Research lowered shares of Anterix from a “strong-buy” rating to a “hold” rating in a research 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. According to MarketBeat.com, Anterix presently has a consensus rating of “Hold” and a consensus price target of $50.00.

Anterix Trading Up 5.1%

The stock has a market cap of $757.95 million, a P/E ratio of 9.30 and a beta of 0.76. The company’s fifty day simple moving average is $32.28 and its 200-day simple moving average is $25.07.

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

Hedge Funds Weigh In On Anterix

Several hedge funds and other institutional investors have recently modified their holdings of ATEX. Jefferies Financial Group Inc. bought a new stake in Anterix in the fourth quarter valued at $9,922,000. Millennium Management LLC boosted its stake in shares of Anterix by 1,153.1% in the 4th quarter. Millennium Management LLC now owns 439,946 shares of the company’s stock valued at $9,604,000 after purchasing an additional 404,838 shares in the last quarter. Beartown Capital Management LLC acquired a new stake in shares of Anterix in the 4th quarter valued at $3,165,000. AYAL Capital Advisors Ltd grew its holdings in shares of Anterix by 143.4% in the 2nd quarter. AYAL Capital Advisors Ltd now owns 240,171 shares of the company’s stock worth $6,160,000 after purchasing an additional 141,500 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its position in shares of Anterix by 32.0% during the 4th quarter. Gamco Investors INC. ET AL now owns 422,470 shares of the company’s stock worth $9,223,000 after purchasing an additional 102,400 shares in the last quarter. 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.