Anterix (NASDAQ:ATEX) Reaches New 1-Year Low - Here's Why

Anterix Inc. (NASDAQ:ATEX - Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $27.31 and last traded at $28.52, with a volume of 192758 shares traded. The stock had previously closed at $28.64.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. increased their price target on shares of Anterix from $61.00 to $67.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th.

Anterix Trading Down 1.1%

The firm has a market cap of $521.92 million, a price-to-earnings ratio of -17.23 and a beta of 0.94. The company's 50-day moving average is $33.73 and its 200-day moving average is $33.24.

Institutional Trading of Anterix

A number of hedge funds have recently added to or reduced their stakes in the stock. JT Stratford LLC acquired a new stake in Anterix in the first quarter valued at approximately $280,000. Roubaix Capital LLC acquired a new stake in Anterix in the first quarter valued at approximately $5,918,000. Russell Investments Group Ltd. boosted its position in Anterix by 185.1% in the first quarter. Russell Investments Group Ltd. now owns 5,123 shares of the company's stock valued at $188,000 after buying an additional 3,326 shares in the last quarter. Nuveen LLC acquired a new stake in Anterix in the first quarter valued at approximately $7,204,000. Finally, Covestor Ltd grew its holdings in shares of Anterix by 203,300.0% during the first quarter. Covestor Ltd now owns 4,068 shares of the company's stock worth $149,000 after purchasing an additional 4,066 shares during the last quarter. Institutional investors and hedge funds 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.