Anterix's (ATEX) "Sell (D+)" Rating Reaffirmed at Weiss Ratings

Key Points

• Anterix's stock has been given a "Sell (D+)" rating by Weiss Ratings, reaffirming concerns about its performance.
• In recent trading, Anterix stock is priced at $22.03, with a 52-week range between $20.61 and $42.91.
• The company reported an earnings per share (EPS) of ($0.48), exceeding analyst expectations of ($0.54) for its recent quarter.

Anterix (NASDAQ:ATEX - Get Free Report)'s stock had its "sell (d+)" rating reiterated by stock analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen cut Anterix from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Anterix currently has an average rating of "Moderate Buy" and an average target price of $67.00.

Anterix Stock Performance

Anterix stock traded up $0.50 during midday trading on Wednesday, hitting $22.03. 117,487 shares of the company's stock were exchanged, compared to its average volume of 181,509. Anterix has a 52-week low of $20.61 and a 52-week high of $42.91. The stock has a 50-day moving average price of $22.07 and a two-hundred day moving average price of $26.28. The company has a market cap of $412.84 million, a P/E ratio of 14.12 and a beta of 0.81.

Anterix (NASDAQ:ATEX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.54) by $0.06. Anterix had a negative return on equity of 23.87% and a net margin of 495.14%.The firm had revenue of $1.42 million during the quarter, compared to analysts' expectations of $1.51 million. As a group, sell-side analysts expect that Anterix will post -1.53 earnings per share for the current year.

Insider Buying and Selling at Anterix

In other Anterix news, CEO Scott A. Lang purchased 4,650 shares of the stock in a transaction on Thursday, September 18th. The stock was acquired at an average price of $21.28 per share, with a total value of $98,952.00. Following the transaction, the chief executive officer directly owned 4,650 shares of the company's stock, valued at approximately $98,952. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 45.61% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ATEX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Anterix by 6.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,071 shares of the company's stock valued at $738,000 after purchasing an additional 1,529 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Anterix by 131,650.0% in the 1st quarter. GAMMA Investing LLC now owns 2,635 shares of the company's stock worth $96,000 after acquiring an additional 2,633 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Anterix by 23.6% in the 1st quarter. SG Americas Securities LLC now owns 25,192 shares of the company's stock worth $922,000 after acquiring an additional 4,805 shares in the last quarter. Kirr Marbach & Co. LLC IN raised its position in shares of Anterix by 4.7% in the 1st quarter. Kirr Marbach & Co. LLC IN now owns 96,797 shares of the company's stock worth $3,543,000 after acquiring an additional 4,386 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Anterix by 8.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,029 shares of the company's stock worth $440,000 after acquiring an additional 949 shares in the last quarter. Institutional investors own 87.67% of the company's stock.

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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