Anterix (NASDAQ:ATEX) Raised to Buy at B. Riley Financial

Key Points

• B. Riley upgraded Anterix to Buy from Neutral and set a $103 price target, implying 34.6% upside from the prior close.
• Analyst views remain mixed, but MarketBeat lists a consensus rating of Moderate Buy and an average price target of $131.33.
• Anterix reported a quarterly loss of $0.25 per share, narrower than the $0.30 consensus estimate, while revenue of $1.96 million fell short of the $2.05 million forecast.

Anterix (NASDAQ:ATEX - Get Free Report) was upgraded by research analysts at B. Riley Financial from a "neutral" rating to a "buy" rating in a report released on Thursday, FinViz reports. The brokerage presently has a $103.00 price target on the stock. B. Riley Financial's price target would suggest a potential upside of 34.59% from the stock's previous close.

ATEX has been the subject of several other reports. Wall Street Zen downgraded shares of Anterix from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Clear Str upgraded Anterix to a "strong-buy" rating in a research note on Monday, July 27th. JPMorgan Chase & Co. cut their price objective on Anterix from $133.00 to $130.00 and set an "overweight" rating on the stock in a report on Thursday, August 13th. Weiss Ratings lowered Anterix from a "hold (c)" rating to a "sell (d+)" rating in a research report on Wednesday. Finally, DA Davidson set a $161.00 target price on Anterix in a report on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Anterix presently has a consensus rating of "Moderate Buy" and an average price target of $131.33.

Anterix Trading Up 1.4%

Anterix stock opened at $76.53 on Thursday. Anterix has a 12-month low of $17.90 and a 12-month high of $113.00. The business's 50-day moving average price is $81.30 and its two-hundred day moving average price is $67.22.

Anterix (NASDAQ:ATEX - Get Free Report) last posted its quarterly earnings results on Tuesday, November 10th. The company reported ($0.25) earnings per share for the quarter, beating analysts' consensus estimates of ($0.30) by $0.05. The company had revenue of $1.96 million for the quarter, compared to the consensus estimate of $2.05 million. Anterix had a net margin of 96.23% and a negative return on equity of 11.34%. As a group, equities research analysts forecast that Anterix will post -2.00 EPS for the current year.

Insider Activity

In other news, CMO Heather Martin sold 8,064 shares of Anterix stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $84.20, for a total transaction of $678,988.80. Following the transaction, the chief marketing officer owned 26,743 shares in the company, valued at approximately $2,251,760.60. The trade was 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 accessible through the SEC website. Also, CFO Elena Marquez sold 4,981 shares of Anterix stock in a transaction on Friday, October 9th. The stock was sold at an average price of $80.43, for a total transaction of $400,621.83. Following the transaction, the chief financial officer owned 12,604 shares in the company, valued at approximately $1,013,739.72. This trade represents a 28.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 124,841 shares of company stock worth $10,975,765. Company insiders own 40.05% of the company's stock.

Institutional Trading of Anterix

A number of institutional investors and hedge funds have recently bought and sold shares of ATEX. Virtus Advisers LLC lifted its holdings in Anterix by 16.8% during the 3rd quarter. Virtus Advisers LLC now owns 4,643 shares of the company's stock worth $364,000 after buying an additional 667 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Anterix by 4.0% in the third quarter. Russell Investments Group Ltd. now owns 3,609 shares of the company's stock worth $283,000 after acquiring an additional 138 shares during the period. Fulcrum Asset Management LLP acquired a new position in shares of Anterix in the third quarter worth approximately $724,000. CenterBook Partners LP boosted its holdings in Anterix by 165.3% in the third quarter. CenterBook Partners LP now owns 18,242 shares of the company's stock valued at $1,432,000 after acquiring an additional 11,365 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in Anterix by 8.0% in the third quarter. Commonwealth Equity Services LLC now owns 2,700 shares of the company's stock valued at $212,000 after acquiring an additional 199 shares during the last quarter. 87.67% of the stock is currently owned by institutional investors and hedge funds.

Anterix News Roundup

Investors following ATEX have been watching these news items:

• Positive Sentiment: Investors may be encouraged by Anterix’s reported $107.5 million in cash, significant contract revenue yet to be collected, and 16 active business opportunities. The company also highlighted scarcity of suitable spectrum, which could support demand for its spectrum assets. Article: Anterix signals 16 active opportunities as it stresses $107.5M cash flexibility and spectrum scarcity
• Positive Sentiment: Fiscal Q2 loss of $0.25 per share was narrower than some estimates, including Zacks’ $0.45 loss forecast. This earnings beat may have helped offset concerns about the reported net loss. Article: Anterix reports Q2 loss, misses revenue estimates
• Neutral Sentiment: A broader industry outlook points to potential long-term support from digital infrastructure upgrades, fiber densification and 5G deployment, though this is a sector trend rather than a company-specific catalyst. Article: Inherent Sector Strength Poised to Aid These 2 Communication Stocks

About Anterix

Anterix Inc. provides licensed wireless spectrum for private broadband networks, primarily serving electric, gas and water utilities and other critical-infrastructure organizations. Its business focuses on making 900 MHz spectrum available to customers that want dedicated communications networks for operational needs such as grid monitoring, automation and resilience. The company's spectrum holdings cover areas across the United States. Anterix works with utilities and technology partners to support the development of private LTE networks, offering spectrum access and related planning and ecosystem support rather than operating a public mobile network.

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