Anterix (NASDAQ:ATEX) Stock Price Breaks Above Fifty Day Moving Average – Should You Sell?

Shares of Anterix Inc. (NASDAQ:ATEX) crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $83.58 and traded as high as $85.98. Anterix shares last traded at $85.62, with a volume of 210,917 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ATEX shares. Wall Street Zen lowered shares of Anterix from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. JPMorgan Chase & Co. reduced their target price on shares of Anterix from $133.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, August 13th. Weiss Ratings lowered shares of Anterix from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday. DA Davidson set a $161.00 price target on shares of Anterix in a research note on Friday, August 21st. Finally, Clear Str upgraded shares of Anterix to a “strong-buy” rating in a report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.00.

Anterix Stock Performance

The business has a 50 day simple moving average of $83.59 and a 200 day simple moving average of $64.77.

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

Insider Activity at Anterix

In other Anterix news, CMO Heather Martin sold 8,064 shares of the business’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $84.20, for a total transaction of $678,988.80. Following the sale, the chief marketing officer directly owned 26,743 shares in the company, valued at $2,251,760.60. This represents a 23.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott A. Lang sold 15,000 shares of the stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $80.00, for a total transaction of $1,200,000.00. Following the sale, the chief executive officer directly owned 26,470 shares in the company, valued at $2,117,600. This represents a 36.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 124,841 shares of company stock worth $10,975,765 over the last ninety days. Company insiders own 40.05% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. State of Wyoming purchased a new stake in shares of Anterix during the third quarter worth $27,000. Hanseatic Management Services Inc. boosted its holdings in Anterix by 2.1% in the third quarter. Hanseatic Management Services Inc. now owns 18,812 shares of the company’s stock valued at $1,477,000 after purchasing an additional 394 shares during the period. Moody Aldrich Partners LLC purchased a new position in Anterix in the third quarter valued at $1,162,000. Sterling Capital Management LLC boosted its holdings in Anterix by 850.0% in the third quarter. Sterling Capital Management LLC now owns 380 shares of the company’s stock valued at $30,000 after purchasing an additional 340 shares during the period. Finally, Inspire Investing LLC grew its stake in Anterix by 43.7% during the 3rd quarter. Inspire Investing LLC now owns 9,487 shares of the company’s stock worth $745,000 after purchasing an additional 2,883 shares in the last quarter. Hedge funds and other institutional investors own 87.67% of the company’s stock.

Anterix Company Profile

Anterix Inc (NASDAQ: ATEX) develops and provides private wireless broadband solutions for critical infrastructure industries. The company’s primary focus is enabling electric, gas, water and other utilities to deploy secure, resilient communications networks that support operational technology, grid modernization and other mission-critical applications.

Anterix primarily uses its licensed 900 MHz spectrum holdings to support private broadband networks. Its offerings include spectrum access and related wireless communications solutions designed to help utilities connect field equipment, sensors, control systems and mobile workforces.