Anterix (NASDAQ:ATEX) Upgraded at Zacks Research

Zacks Research upgraded shares of Anterix (NASDAQ:ATEX) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

A number of other brokerages also recently weighed in on ATEX. Weiss Ratings reissued a “sell (d+)” rating on shares of Anterix in a research note on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price target on shares of Anterix from $67.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Anterix has a consensus rating of “Moderate Buy” and an average target price of $50.00.

Anterix Stock Down 0.2%

Shares of ATEX opened at $22.38 on Wednesday. The firm has a market cap of $418.95 million, a price-to-earnings ratio of 4.38 and a beta of 0.86. The company’s fifty day moving average is $20.98 and its 200-day moving average is $21.84. Anterix has a 12 month low of $17.58 and a 12 month high of $42.91.

Anterix (NASDAQ:ATEX) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.65) by $0.51. The business had revenue of $1.55 million during the quarter, compared to analyst estimates of $1.43 million. Anterix had a net margin of 1,614.08% and a negative return on equity of 14.95%. As a group, research analysts predict that Anterix will post -1.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Gena L. Ashe sold 6,564 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $21.07, for a total transaction of $138,303.48. Following the completion of the transaction, the insider directly owned 13,366 shares in the company, valued at $281,621.62. The trade was a 32.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Scott A. Lang acquired 1,160 shares of Anterix stock in a transaction dated Thursday, December 18th. The stock was acquired at an average cost of $21.61 per share, with a total value of $25,067.60. Following the completion of the transaction, the chief executive officer directly owned 8,260 shares of the company’s stock, valued at $178,498.60. This trade represents a 16.34% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 45.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ATEX. SG Americas Securities LLC bought a new stake in shares of Anterix in the fourth quarter valued at about $1,059,000. Tudor Investment Corp ET AL raised its holdings in Anterix by 9.8% in the 3rd quarter. Tudor Investment Corp ET AL now owns 128,681 shares of the company’s stock valued at $2,763,000 after acquiring an additional 11,514 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Anterix in the 3rd quarter valued at approximately $587,000. Virtus Advisers LLC bought a new stake in shares of Anterix in the 3rd quarter worth approximately $75,000. Finally, Alliancebernstein L.P. grew its holdings in shares of Anterix by 16.8% during the 3rd quarter. Alliancebernstein L.P. now owns 13,230 shares of the company’s stock worth $284,000 after purchasing an additional 1,900 shares in the last quarter. Institutional investors own 87.67% of the company’s stock.

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.