Anterix (NASDAQ:ATEX) Downgraded to "Sell" Rating by Wall Street Zen

Key Points

• Anterix (NASDAQ:ATEX) has been downgraded from a "hold" rating to a "sell" rating by Wall Street Zen.
• The company's stock is currently trading at approximately $22.34, significantly lower than its 52-week high of $42.91.
• Anterix reported a quarterly loss of ($0.48) earnings per share, exceeding analyst expectations of ($0.54), but its revenue of $1.42 million fell short of the estimated $1.51 million.

Anterix (NASDAQ:ATEX - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

Anterix Stock Performance

Shares of ATEX opened at $22.34 on Friday. The business has a 50-day moving average of $24.24 and a 200 day moving average of $29.98. Anterix has a fifty-two week low of $20.61 and a fifty-two week high of $42.91. The firm has a market cap of $418.65 million, a P/E ratio of 14.32 and a beta of 0.89.

Anterix (NASDAQ:ATEX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.06. Anterix had a negative return on equity of 23.87% and a net margin of 495.14%. The company had revenue of $1.42 million during the quarter, compared to analyst estimates of $1.51 million. As a group, research analysts predict that Anterix will post -1.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ATEX. Scoggin Management LP purchased a new position in Anterix during the 1st quarter valued at about $10,980,000. Nuveen LLC purchased a new position in Anterix during the 1st quarter valued at about $7,204,000. Roubaix Capital LLC purchased a new position in Anterix during the 1st quarter valued at about $5,918,000. AYAL Capital Advisors Ltd grew its holdings in Anterix by 143.4% during the 2nd quarter. AYAL Capital Advisors Ltd now owns 240,171 shares of the company's stock valued at $6,160,000 after buying an additional 141,500 shares in the last quarter. Finally, Garnet Equity Capital Holdings Inc. grew its holdings in Anterix by 33.3% during the 4th quarter. Garnet Equity Capital Holdings Inc. now owns 388,829 shares of the company's stock valued at $11,925,000 after buying an additional 97,127 shares in the last quarter. Hedge funds and other institutional investors own 87.67% of the company's stock.

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.

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