Anterix (NASDAQ:ATEX) Hits New 52-Week High – What’s Next?

Anterix Inc. (NASDAQ:ATEX)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $50.45 and last traded at $49.7310, with a volume of 317845 shares trading hands. The stock had previously closed at $49.59.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ATEX shares. Zacks Research cut shares of Anterix from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 5th. Weiss Ratings raised shares of Anterix from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, April 21st. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $50.00.

Anterix Price Performance

The stock’s fifty day simple moving average is $39.66 and its 200-day simple moving average is $28.75. The firm has a market cap of $925.02 million, a PE ratio of 11.45 and a beta of 0.86.

Anterix (NASDAQ:ATEX) last posted its quarterly earnings results on Wednesday, February 11th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.22. The business 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%. Analysts expect that Anterix Inc. will post -1.53 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ATEX. Jefferies Financial Group Inc. purchased a new position in shares of Anterix in the fourth quarter worth $9,922,000. Millennium Management LLC raised its holdings in shares of 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 buying an additional 404,838 shares during the last quarter. Beartown Capital Management LLC purchased a new position in shares of Anterix in the fourth quarter worth $3,165,000. Gamco Investors INC. ET AL raised its holdings in shares of 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 buying an additional 102,400 shares during the last quarter. Finally, Gabelli Funds LLC raised its holdings in shares of Anterix by 52.2% in the third quarter. Gabelli Funds LLC now owns 286,282 shares of the company’s stock worth $6,146,000 after buying an additional 98,130 shares during the last quarter. Hedge funds and other institutional investors 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.