Anterix (NASDAQ:ATEX) Hits New 52-Week High – Here’s Why

Anterix Inc. (NASDAQ:ATEX) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $56.50 and last traded at $55.1510, with a volume of 18978 shares. The stock had previously closed at $55.92.

Analyst Ratings Changes

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

Anterix Stock Down 2.6%

The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 12.47 and a beta of 0.86. The business’s fifty day moving average is $41.69 and its two-hundred day moving average is $30.15.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Jefferies Financial Group Inc. purchased a new position in Anterix in the fourth quarter worth approximately $9,922,000. Millennium Management LLC lifted its stake in Anterix by 1,153.1% in the fourth quarter. Millennium Management LLC now owns 439,946 shares of the company’s stock worth $9,604,000 after acquiring an additional 404,838 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Anterix by 30.8% in the first quarter. Dimensional Fund Advisors LP now owns 424,856 shares of the company’s stock worth $16,223,000 after acquiring an additional 99,933 shares during the last quarter. Gamco Investors INC. ET AL lifted its stake in Anterix by 32.0% in the fourth quarter. Gamco Investors INC. ET AL now owns 422,470 shares of the company’s stock worth $9,223,000 after acquiring an additional 102,400 shares during the last quarter. Finally, State Street Corp lifted its stake in Anterix by 5.4% in the fourth quarter. State Street Corp now owns 333,788 shares of the company’s stock worth $7,287,000 after acquiring an additional 17,017 shares during the last quarter. Institutional investors and hedge funds own 87.67% of the company’s stock.

Anterix Company Profile

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.