Anterix (NASDAQ:ATEX) Trading Up 7.3% – Should You Buy?

Shares of Anterix Inc. (NASDAQ:ATEX) shot up 7.3% during mid-day trading on Monday . The company traded as high as $85.06 and last traded at $82.6170. 60,403 shares traded hands during trading, a decline of 84% from the average session volume of 387,573 shares. The stock had previously closed at $76.99.

Wall Street Analyst Weigh In

ATEX has been the topic of several research analyst reports. Weiss Ratings downgraded Anterix from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday. JPMorgan Chase & Co. decreased their target price on Anterix from $133.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. Wall Street Zen lowered Anterix from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. DA Davidson set a $161.00 price target on Anterix in a report on Friday, August 21st. Finally, B. Riley Financial cut shares of Anterix from a “buy” rating to a “neutral” rating and upped their target price for the company from $44.00 to $69.00 in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.00.

Anterix Price Performance

The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 24.31 and a beta of 0.84. The business has a 50 day moving average of $91.85 and a 200 day moving average of $70.11.

Anterix (NASDAQ:ATEX) last issued its earnings results on Tuesday, August 11th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.44. The business had revenue of $1.96 million for the quarter, compared to analyst estimates of $2.00 million. Anterix had a net margin of 933.03% and a negative return on equity of 10.65%. On average, sell-side analysts forecast that Anterix Inc. will post -2 EPS for the current fiscal year.

Insider Buying and Selling

In other Anterix news, insider Christopher Guttman-Mccabe sold 23,439 shares of Anterix stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $92.36, for a total transaction of $2,164,826.04. Following the completion of the transaction, the insider directly owned 44,876 shares of the company’s stock, valued at approximately $4,144,747.36. This trade represents a 34.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Leslie B. Daniels sold 2,500 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $83.83, for a total transaction of $209,575.00. Following the completion of the sale, the director owned 43,477 shares in the company, valued at $3,644,676.91. This represents a 5.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 104,860 shares of company stock worth $9,375,143. Insiders own 40.05% of the company’s stock.

Hedge Funds Weigh In On Anterix

Institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC acquired a new position in Anterix in the second quarter worth $35,000. Parallel Advisors LLC increased its stake in shares of Anterix by 63.7% in the first quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock valued at $36,000 after buying an additional 363 shares in the last quarter. Fifth Third Bancorp acquired a new stake in shares of Anterix in the first quarter valued at $64,000. Legal & General Group Plc bought a new position in shares of Anterix in the second quarter valued at about $222,000. Finally, Ieq Capital LLC bought a new position in shares of Anterix in the second quarter valued at about $226,000. Institutional investors own 87.67% of the company’s stock.

Anterix Company Profile

Anterix Inc (NASDAQ: ATEX) provides private wireless broadband solutions for critical infrastructure organizations, with a primary focus on electric utilities in the United States. The company’s services are designed to support mission-critical communications, grid modernization, operational technology, and other applications that require secure and reliable connectivity.

Anterix owns and manages licensed spectrum in the 900 MHz band and makes that spectrum available through arrangements with utility and infrastructure customers.