Anterix (NASDAQ:ATEX) Stock Rating Upgraded by Zacks Research

Anterix (NASDAQ:ATEX) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently commented on ATEX. Weiss Ratings restated a “sell (d+)” rating on shares of Anterix in a research report on Wednesday, October 8th. JPMorgan Chase & Co. cut their target price on Anterix from $67.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.00.

Anterix Price Performance

NASDAQ:ATEX opened at $22.42 on Wednesday. The firm has a market cap of $419.64 million, a price-to-earnings ratio of 4.39 and a beta of 0.86. The firm’s fifty day moving average price is $20.93 and its 200 day moving average price is $21.89. Anterix has a 1-year low of $17.58 and a 1-year high of $42.91.

Anterix (NASDAQ:ATEX) last released its earnings results on Wednesday, November 12th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.65) by $0.51. The company had revenue of $1.55 million during the quarter, compared to analysts’ expectations of $1.43 million. Anterix had a net margin of 1,614.08% and a negative return on equity of 14.95%. As a group, analysts expect that Anterix will post -1.53 earnings per share for the current fiscal year.

Insider Transactions at Anterix

In other news, insider Gena L. Ashe sold 6,564 shares of Anterix stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $21.07, for a total transaction of $138,303.48. Following the completion of the sale, the insider directly owned 13,366 shares in the company, valued at approximately $281,621.62. This trade represents a 32.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott A. Lang purchased 2,450 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were purchased at an average cost of $20.41 per share, for a total transaction of $50,004.50. Following the purchase, the chief executive officer directly owned 7,100 shares in the company, valued at approximately $144,911. This represents a 52.69% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 45.61% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its stake in shares of Anterix by 299.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company’s stock worth $42,000 after buying an additional 1,233 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in Anterix during the 2nd quarter valued at about $48,000. Quantbot Technologies LP acquired a new position in Anterix during the third quarter worth about $57,000. BNP Paribas Financial Markets lifted its holdings in shares of Anterix by 119.3% in the second quarter. BNP Paribas Financial Markets now owns 2,404 shares of the company’s stock valued at $62,000 after purchasing an additional 1,308 shares in the last quarter. Finally, Virtus Advisers LLC purchased a new stake in shares of Anterix in the third quarter valued at about $75,000. Hedge funds and other institutional investors own 87.67% of the company’s stock.

Anterix Company Profile

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.