Anterix (NASDAQ:ATEX) Hits New 12-Month High – Should You Buy?

Shares of Anterix Inc. (NASDAQ:ATEX) hit a new 52-week high on Friday . The company traded as high as $39.78 and last traded at $39.31, with a volume of 101409 shares trading hands. The stock had previously closed at $39.00.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Zacks Research downgraded Anterix from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 5th. Weiss Ratings cut Anterix from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $50.00.

Anterix Trading Up 1.5%

The business’s 50-day simple moving average is $28.43 and its 200-day simple moving average is $23.73. The company has a market cap of $741.71 million, a PE ratio of 9.10 and a beta of 0.76.

Anterix (NASDAQ:ATEX) last posted its quarterly earnings results on Wednesday, February 11th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.57) by $0.22. Anterix had a net margin of 1,370.92% and a negative return on equity of 12.26%. The business had revenue of $1.57 million for the quarter, compared to analysts’ expectations of $1.47 million. On average, research analysts predict that Anterix Inc. will post -1.53 earnings per share for the current fiscal year.

Insider Transactions at Anterix

In other news, CEO Scott A. Lang bought 1,160 shares of the stock in a transaction on Thursday, December 18th. The shares were purchased at an average price of $21.61 per share, for a total transaction of $25,067.60. Following the completion of the purchase, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 45.61% of the company’s stock.

Institutional Investors Weigh In On Anterix

Several institutional investors have recently made changes to their positions in the company. Jefferies Financial Group Inc. bought a new stake in shares of Anterix in the 4th quarter valued at approximately $9,922,000. Millennium Management LLC raised its position in Anterix by 1,153.1% during the fourth quarter. Millennium Management LLC now owns 439,946 shares of the company’s stock valued at $9,604,000 after acquiring an additional 404,838 shares in the last quarter. Beartown Capital Management LLC bought a new position in Anterix during the fourth quarter valued at approximately $3,165,000. AYAL Capital Advisors Ltd lifted its stake in Anterix by 143.4% in the second quarter. AYAL Capital Advisors Ltd now owns 240,171 shares of the company’s stock valued at $6,160,000 after acquiring an additional 141,500 shares during the last quarter. Finally, 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 valued at $9,223,000 after acquiring an additional 102,400 shares during the last quarter. 87.67% of the stock is currently owned by institutional investors and hedge funds.

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.