Anterix (NASDAQ:ATEX) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Anterix (NASDAQ:ATEX) from a hold rating to a sell rating in a report issued on Saturday.

Several other brokerages also recently issued reports on ATEX. Weiss Ratings upgraded shares of Anterix from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th. B. Riley Financial downgraded Anterix from a “buy” rating to a “neutral” rating and raised their price objective for the company from $44.00 to $69.00 in a report on Thursday, June 4th. Clear Str upgraded Anterix to a “strong-buy” rating in a research report on Monday, July 27th. Finally, JPMorgan Chase & Co. lowered their target price on Anterix from $133.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $99.50.

Anterix Trading Up 0.0%

Shares of Anterix stock opened at $91.53 on Friday. The firm’s 50 day moving average is $92.56 and its 200 day moving average is $60.15. The firm has a market capitalization of $1.79 billion, a PE ratio of 26.15 and a beta of 0.85. Anterix has a 1 year low of $17.58 and a 1 year high of $113.00.

Anterix (NASDAQ:ATEX) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.43) by $0.44. Anterix had a net margin of 933.03% and a negative return on equity of 10.65%. The business had revenue of $1.96 million during the quarter, compared to the consensus estimate of $2.00 million. As a group, research analysts anticipate that Anterix will post -2.07 earnings per share for the current year.

Insider Buying and Selling at Anterix

In other Anterix news, Director Mahvash Yazdi sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $80.00, for a total value of $560,000.00. Following the completion of the transaction, the director directly owned 19,407 shares in the company, valued at approximately $1,552,560. This represents a 26.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark Fleischhauer sold 3,500 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $79.83, for a total transaction of $279,405.00. Following the transaction, the director directly owned 12,769 shares of the company’s stock, valued at $1,019,349.27. The trade was a 21.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 124,109 shares of company stock worth $10,174,158 over the last quarter. Insiders own 40.05% of the company’s stock.

Institutional Trading of Anterix

A number of institutional investors and hedge funds have recently bought and sold shares of ATEX. Parallel Advisors LLC raised its position in Anterix by 63.7% during the 1st quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock worth $36,000 after purchasing an additional 363 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Anterix by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 138,677 shares of the company’s stock valued at $3,027,000 after buying an additional 599 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Anterix by 12.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 5,760 shares of the company’s stock valued at $148,000 after buying an additional 637 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Anterix by 17.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,084 shares of the company’s stock valued at $182,000 after buying an additional 1,029 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Anterix by 299.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company’s stock valued at $42,000 after buying an additional 1,233 shares during the period. 87.67% of the stock is currently owned by institutional investors and hedge funds.

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.