Anterix (NASDAQ:ATEX) Reaches New 1-Year High – Here’s What Happened

Anterix Inc. (NASDAQ:ATEX)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $59.80 and last traded at $56.9160, with a volume of 41956 shares trading hands. The stock had previously closed at $57.06.

Analyst Upgrades and Downgrades

ATEX has been the subject of several analyst reports. Zacks Research lowered Anterix from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 5th. Weiss Ratings raised Anterix from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Anterix presently has a consensus rating of “Hold” and an average price target of $50.00.

Anterix Stock Performance

The firm has a fifty day simple moving average of $42.84 and a 200 day simple moving average of $30.92. The company has a market capitalization of $1.05 billion, a PE ratio of 12.81 and a beta of 0.86.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quantinno Capital Management LP increased its holdings in shares of Anterix by 64.6% in the 1st quarter. Quantinno Capital Management LP now owns 15,619 shares of the company’s stock valued at $596,000 after acquiring an additional 6,132 shares during the period. Gamco Investors INC. ET AL increased its holdings in shares of Anterix by 0.8% in the 1st quarter. Gamco Investors INC. ET AL now owns 425,820 shares of the company’s stock valued at $16,262,000 after acquiring an additional 3,350 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Anterix by 30.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 424,856 shares of the company’s stock valued at $16,223,000 after acquiring an additional 99,933 shares during the period. Parallel Advisors LLC increased its holdings in shares of Anterix by 63.7% in the 1st quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock valued at $36,000 after acquiring an additional 363 shares during the period. Finally, Fifth Third Bancorp purchased a new position in shares of Anterix in the 1st quarter valued at $64,000. 87.67% of the stock is currently owned by hedge funds and other institutional investors.

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.