Anterix (NASDAQ:ATEX) Hits New 52-Week High - What's Next?

Key Points

• New 52-week high: Anterix shares traded as high as $50.45 and last around $49.73 on volume of ~317,845, sitting well above its 50- and 200-day moving averages ($39.66 and $28.75) with a market cap of about $925M.
• Analyst consensus "Hold": The stock has an average rating of Hold and a consensus target of $50.00 after mixed analyst moves (one Buy, two Holds; Weiss upgraded modestly while Zacks downgraded).
• Fundamentals and ownership: Anterix beat the quarter (EPS -$0.35 vs -$0.57; revenue $1.57M vs $1.47M) but faces a projected negative full-year EPS, and institutional investors own roughly 87.7% of the shares with notable recent buys by Millennium, Jefferies and Gamco.

Shares of Anterix Inc. (NASDAQ:ATEX - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $50.45 and last traded at $49.7310, with a volume of 317845 shares traded. The stock had previously closed at $49.59.

Analyst Ratings Changes

A number of equities analysts have commented on ATEX shares. Weiss Ratings upgraded shares of Anterix from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, April 21st. Zacks Research downgraded shares of Anterix from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 5th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $50.00.

Anterix Stock Down 0.4%

The stock's 50 day moving average price is $39.66 and its 200-day moving average price is $28.75. The stock has a market capitalization of $925.02 million, a P/E ratio of 11.45 and a beta of 0.86.

Anterix (NASDAQ:ATEX - Get Free Report) last released its quarterly earnings data on Wednesday, February 11th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.47 million. Analysts anticipate that Anterix Inc. will post -1.53 earnings per share for the current year.

Institutional Investors Weigh In On Anterix

A number of hedge funds and other institutional investors have recently bought and sold shares of ATEX. Jefferies Financial Group Inc. purchased a new stake in Anterix during the fourth quarter valued at approximately $9,922,000. Millennium Management LLC lifted its position in Anterix by 1,153.1% during the fourth quarter. Millennium Management LLC now owns 439,946 shares of the company's stock valued at $9,604,000 after acquiring an additional 404,838 shares during the last quarter. Beartown Capital Management LLC purchased a new stake in Anterix during the fourth quarter valued at approximately $3,165,000. Gamco Investors INC. ET AL lifted its position in Anterix by 32.0% during the fourth quarter. Gamco Investors INC. ET AL now owns 422,470 shares of the company's stock valued at $9,223,000 after acquiring an additional 102,400 shares during the last quarter. Finally, Gabelli Funds LLC lifted its position in Anterix by 52.2% during the third quarter. Gabelli Funds LLC now owns 286,282 shares of the company's stock valued at $6,146,000 after acquiring an additional 98,130 shares during the last quarter. Hedge funds and other 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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