Anterix (NASDAQ:ATEX) Hits New 1-Year High - Time to Buy?

Key Points

• Anterix hit a new 52-week high, reaching as much as $56.50 intraday before finishing near $55.15, reflecting strong recent share price momentum.
• Analyst sentiment remains mixed: Zacks downgraded the stock to Hold, while the consensus rating is also Hold with an average price target of $50.00.
• The company recently beat quarterly earnings expectations, reporting a smaller-than-expected loss and revenue above estimates, while institutional investors have been increasing their stakes in the stock.

Anterix Inc. (NASDAQ:ATEX - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $56.50 and last traded at $55.1510, with a volume of 18978 shares trading hands. The stock had previously closed at $55.92.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ATEX shares. Zacks Research cut shares of Anterix from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 5th. Weiss Ratings upgraded shares of Anterix from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Anterix presently has an average rating of "Hold" and an average price target of $50.00.

Anterix Trading Down 0.2%

The firm has a 50 day moving average price of $40.57 and a two-hundred day moving average price of $29.41. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 12.83 and a beta of 0.86.

Anterix (NASDAQ:ATEX - Get Free Report) last released its quarterly earnings results on Wednesday, February 11th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.22. Anterix had a negative return on equity of 12.26% and a net margin of 1,370.92%.The firm had revenue of $1.57 million for the quarter, compared to analyst estimates of $1.47 million. As a group, research analysts forecast that Anterix Inc. will post -1.53 earnings per share for the current year.

Institutional Investors Weigh In On Anterix

A number of institutional investors have recently made changes to their positions in ATEX. AQR Capital Management LLC increased its holdings in shares of Anterix by 16.9% in the 1st quarter. AQR Capital Management LLC now owns 11,489 shares of the company's stock valued at $420,000 after acquiring an additional 1,659 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Anterix by 50.6% in the 1st quarter. Millennium Management LLC now owns 116,473 shares of the company's stock valued at $4,263,000 after acquiring an additional 39,143 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Anterix by 17.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 124,706 shares of the company's stock valued at $4,564,000 after acquiring an additional 18,771 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Anterix by 19.7% in the 2nd quarter. Legal & General Group Plc now owns 11,303 shares of the company's stock valued at $290,000 after acquiring an additional 1,857 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Anterix by 70.9% in the 2nd quarter. Rhumbline Advisers now owns 27,998 shares of the company's stock valued at $718,000 after acquiring an additional 11,615 shares during the last quarter. 87.67% of the stock is currently owned by institutional investors.

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.

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