Anterix (NASDAQ:ATEX) Shares Climb 7.6% – Should You Buy?

by · The Cerbat Gem

Shares of Anterix Inc. (NASDAQ:ATEX – Get Free Report) shot up 7.6% during trading on Monday. The stock traded as high as $79.71 and last traded at $80.6280. Approximately 63,914 shares changed hands during trading, a decline of 83% from the average session volume of 373,018 shares. The stock had previously closed at $74.90.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Clear Str raised shares of Anterix to a “strong-buy” rating in a research report on Monday, July 27th. JPMorgan Chase & Co. cut their target price on shares of Anterix from $133.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, August 13th. Wall Street Zen lowered shares of Anterix from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. DA Davidson set a $161.00 price target on shares of Anterix in a report on Friday, August 21st. Finally, Weiss Ratings raised shares of Anterix from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Anterix currently has an average rating of “Moderate Buy” and a consensus price target of $120.00.

Read Our Latest Stock Report on ATEX

Anterix Trading Up 7.7%

The company has a fifty day moving average price of $83.83 and a two-hundred day moving average price of $77.62. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 23.02 and a beta of 0.89.

Anterix (NASDAQ:ATEX – Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.43) by $0.44. The business had revenue of $1.96 million for the quarter, compared to analyst estimates of $2.00 million. Anterix had a negative return on equity of 10.65% and a net margin of 933.03%. Sell-side analysts anticipate that Anterix Inc. will post -2.00 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director William Heard sold 46,400 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $90.11, for a total transaction of $4,181,104.00. Following the completion of the transaction, the director directly owned 1,670,338 shares in the company, valued at approximately $150,514,157.18. The trade was a 2.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher Guttman-Mccabe sold 23,439 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $92.36, for a total transaction of $2,164,826.04. Following the completion of the sale, the insider owned 44,876 shares in the company, valued at approximately $4,144,747.36. This trade represents a 34.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 124,841 shares of company stock worth $10,975,765 over the last three months. Insiders own 40.05% of the company’s stock.

Institutional Investors Weigh In On Anterix

Several institutional investors have recently bought and sold shares of ATEX. Sterling Capital Management LLC increased its position in Anterix by 850.0% during the third quarter. Sterling Capital Management LLC now owns 380 shares of the company’s stock worth $30,000 after acquiring an additional 340 shares during the period. Inspire Investing LLC raised its position in shares of Anterix by 43.7% in the 3rd quarter. Inspire Investing LLC now owns 9,487 shares of the company’s stock valued at $745,000 after buying an additional 2,883 shares in the last quarter. Kirr Marbach & Co. LLC IN lifted its holdings in shares of Anterix by 0.4% during the 3rd quarter. Kirr Marbach & Co. LLC IN now owns 116,554 shares of the company’s stock worth $9,149,000 after acquiring an additional 485 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Anterix in the 2nd quarter valued at $35,000. Finally, Wellington Management Group LLP bought a new position in Anterix in the second quarter valued at about $3,192,000. Institutional investors own 87.67% of the company’s stock.

Anterix Company Profile

(Get Free Report)

Anterix Inc (NASDAQ: ATEX) develops and provides private wireless broadband solutions for critical infrastructure industries. The company’s primary focus is enabling electric, gas, water and other utilities to deploy secure, resilient communications networks that support operational technology, grid modernization and other mission-critical applications.

Anterix primarily uses its licensed 900 MHz spectrum holdings to support private broadband networks. Its offerings include spectrum access and related wireless communications solutions designed to help utilities connect field equipment, sensors, control systems and mobile workforces.

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