Anterix (NASDAQ:ATEX) Stock Rating Lowered 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 Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

Anterix Stock Performance

Shares of ATEX stock traded down $0.78 during mid-day trading on Friday, hitting $21.23. The company's stock had a trading volume of 175,981 shares, compared to its average volume of 196,360. Anterix has a 52-week low of $20.61 and a 52-week high of $42.91. The business has a 50-day moving average price of $23.88 and a 200 day moving average price of $29.83. The stock has a market cap of $397.85 million, a price-to-earnings ratio of 13.61 and a beta of 0.89.

Anterix (NASDAQ:ATEX - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $1.42 million during the quarter, compared to analysts' expectations of $1.51 million. Equities research analysts predict that Anterix will post -1.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ATEX. BNP Paribas Financial Markets purchased a new stake in Anterix during the fourth quarter valued at $43,000. Federated Hermes Inc. increased its position in Anterix by 74.0% during the fourth quarter. Federated Hermes Inc. now owns 1,432 shares of the company's stock valued at $44,000 after acquiring an additional 609 shares during the last quarter. Aquatic Capital Management LLC purchased a new stake in Anterix during the fourth quarter valued at $47,000. Tower Research Capital LLC TRC increased its position in Anterix by 299.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company's stock valued at $42,000 after acquiring an additional 1,233 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in Anterix by 156.7% during the fourth quarter. Russell Investments Group Ltd. now owns 1,797 shares of the company's stock valued at $55,000 after acquiring an additional 1,097 shares during the last quarter. Hedge funds and other institutional investors own 87.67% of the company's stock.

Anterix Company Profile

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.