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

Anterix Inc. (NASDAQ:ATEX) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $41.40 and last traded at $40.6550, with a volume of 25751 shares trading hands. The stock had previously closed at $40.39.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ATEX shares. Weiss Ratings raised shares of Anterix from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, March 11th. Zacks Research cut Anterix from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $50.00.

Anterix Stock Up 1.0%

The firm has a market cap of $764.00 million, a PE ratio of 9.35 and a beta of 0.70. The stock’s fifty day simple moving average is $34.60 and its two-hundred day simple moving average is $26.06.

Anterix (NASDAQ:ATEX) last released its earnings results on Wednesday, February 11th. The company reported ($0.35) earnings per share (EPS) 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 firm had revenue of $1.57 million during the quarter, compared to analyst estimates of $1.47 million. On average, equities research analysts anticipate that Anterix Inc. will post -1.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its holdings in Anterix by 299.3% in the second 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 in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Anterix by 119.3% during the second quarter. BNP Paribas Financial Markets now owns 2,404 shares of the company’s stock valued at $62,000 after acquiring an additional 1,308 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Anterix during the third quarter valued at $57,000. Virtus Advisers LLC purchased a new position in shares of Anterix in the 3rd quarter worth about $75,000. Finally, Toronto Dominion Bank purchased a new position in shares of Anterix in the 4th quarter worth about $94,000. 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.