Anterix (NASDAQ:ATEX) Sees Unusually-High Trading Volume

Anterix Inc. (NASDAQ:ATEX) saw strong trading volume on Tuesday . 49,455 shares traded hands during trading, a decline of 67% from the previous session’s volume of 149,775 shares.The stock last traded at $39.49 and had previously closed at $38.96.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. increased their price objective on shares of Anterix from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Thursday, August 8th.

Anterix Price Performance

The firm has a market capitalization of $721.78 million, a PE ratio of -79.33 and a beta of 0.83. The company’s fifty day simple moving average is $38.36 and its 200-day simple moving average is $35.20.

Anterix (NASDAQ:ATEX) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.39). The company had revenue of $1.53 million for the quarter, compared to analysts’ expectations of $1.64 million. Anterix had a negative net margin of 441.15% and a negative return on equity of 27.91%. During the same period in the previous year, the business earned ($0.11) earnings per share. Analysts forecast that Anterix Inc. will post -2.64 earnings per share for the current year.

Hedge Funds Weigh In On Anterix

Several hedge funds and other institutional investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC purchased a new position in shares of Anterix in the second quarter worth about $362,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Anterix in the second quarter worth about $92,000. The Manufacturers Life Insurance Company purchased a new position in shares of Anterix in the second quarter worth about $203,000. AQR Capital Management LLC lifted its stake in shares of Anterix by 17.2% in the second quarter. AQR Capital Management LLC now owns 10,779 shares of the company’s stock worth $427,000 after buying an additional 1,578 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its stake in shares of Anterix by 4.6% in the second quarter. Squarepoint Ops LLC now owns 26,261 shares of the company’s stock worth $1,040,000 after buying an additional 1,159 shares in the last quarter. 87.67% of the stock is owned by hedge funds and other institutional investors.

About Anterix

Anterix Inc operates as a wireless communications company. The company focuses on commercializing its spectrum assets to enable the targeted utility and critical infrastructure customers to deploy private broadband networks and innovative broadband solutions. It holds licensed spectrum in the 900 MHz band with coverage throughout the United States, Alaska, Hawaii, and Puerto Rico.