Anterix (NASDAQ:ATEX) Sets New 52-Week Low - What's Next?

Anterix Inc. (NASDAQ:ATEX - Get Free Report) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $25.26 and last traded at $26.34, with a volume of 339198 shares traded. The stock had previously closed at $26.79.

Anterix Stock Down 1.7%

The firm's 50 day simple moving average is $28.29 and its 200-day simple moving average is $31.87. The company has a market capitalization of $492.56 million, a PE ratio of -41.81 and a beta of 0.88.

Anterix (NASDAQ:ATEX - Get Free Report) last announced its earnings results on Tuesday, June 24th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.12. The business had revenue of $1.39 million during the quarter, compared to the consensus estimate of $1.71 million. Anterix had a negative net margin of 188.56% and a negative return on equity of 29.71%. During the same period in the prior year, the firm earned ($0.62) earnings per share. As a group, sell-side analysts anticipate that Anterix Inc. will post -1.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Two Sigma Securities LLC raised its holdings in Anterix by 5.0% in the fourth quarter. Two Sigma Securities LLC now owns 8,972 shares of the company's stock valued at $275,000 after acquiring an additional 426 shares in the last quarter. Federated Hermes Inc. raised its holdings in Anterix by 74.0% in 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 in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Anterix by 8.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 12,029 shares of the company's stock valued at $440,000 after acquiring an additional 949 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Anterix by 156.7% during the fourth quarter. Russell Investments Group Ltd. now owns 1,797 shares of the company's stock worth $55,000 after purchasing an additional 1,097 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Anterix by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 134,400 shares of the company's stock worth $4,122,000 after purchasing an additional 1,183 shares during the period. 87.67% of the stock is currently owned by hedge funds and other institutional investors.

About Anterix

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.

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