Anterix (NASDAQ:ATEX) Hits New 52-Week High - Still a Buy?

Key Points

• Anterix hit a new 52-week high Monday, trading as high as $46.95 and last at $46.43 on roughly 51,208 shares traded.
• Analysts' consensus is "Hold" with a $50 price target, reflecting mixed recent revisions (one Buy, two Holds) from firms including Weiss Ratings and Zacks.
• Latest quarter beat EPS expectations (loss of $0.35 vs. estimate of -$0.57) on $1.57M revenue; the company has a market cap of about $876M and institutions own roughly 87.7% of the stock.

Anterix Inc. (NASDAQ:ATEX - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $46.95 and last traded at $46.43, with a volume of 51208 shares trading hands. The stock had previously closed at $45.17.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ATEX shares. Weiss Ratings raised Anterix from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, April 21st. Zacks Research cut shares of Anterix from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $50.00.

Anterix Stock Up 3.6%

The business has a fifty day moving average of $38.55 and a 200 day moving average of $28.03. The company has a market cap of $876.30 million, a P/E ratio of 10.76 and a beta of 0.70.

Anterix (NASDAQ:ATEX - Get Free Report) last posted its 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 net margin of 1,370.92% and a negative return on equity of 12.26%. The firm had revenue of $1.57 million during the quarter, compared to analysts' expectations of $1.47 million. On average, sell-side analysts anticipate that Anterix Inc. will post -1.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its holdings in shares of Anterix by 299.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company's stock worth $42,000 after purchasing an additional 1,233 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Anterix in the third quarter worth about $57,000. BNP Paribas Financial Markets raised its stake in shares of Anterix by 119.3% in the second quarter. BNP Paribas Financial Markets now owns 2,404 shares of the company's stock worth $62,000 after buying an additional 1,308 shares during the period. Virtus Advisers LLC purchased a new position in shares of Anterix during the 3rd quarter valued at about $75,000. Finally, Toronto Dominion Bank purchased a new position in shares of Anterix during the 4th quarter valued at about $94,000. Institutional investors own 87.67% of the company's stock.

About Anterix

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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