Anterix (NASDAQ:ATEX) Hits New 1-Year High – What’s Next?

Anterix Inc. (NASDAQ:ATEX)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $59.80 and last traded at $56.9160, with a volume of 41956 shares changing hands. The stock had previously closed at $57.06.

Wall Street Analysts Forecast Growth

ATEX has been the topic of a number of research analyst reports. Weiss Ratings raised Anterix from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, April 21st. Zacks Research downgraded Anterix from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Anterix has an average rating of “Hold” and an average target price of $50.00.

Anterix Stock Down 2.2%

The business has a fifty day simple moving average of $42.84 and a two-hundred day simple moving average of $30.92. The company has a market cap of $1.05 billion, a P/E ratio of 12.81 and a beta of 0.86.

Hedge Funds Weigh In On Anterix

A number of hedge funds have recently modified their holdings of the company. Parallel Advisors LLC grew its position in shares of Anterix by 63.7% during the first quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock worth $36,000 after purchasing an additional 363 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Anterix by 299.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company’s stock worth $42,000 after purchasing an additional 1,233 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Anterix during the third quarter worth about $57,000. BNP Paribas Financial Markets grew its holdings in Anterix by 119.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,404 shares of the company’s stock valued at $62,000 after buying an additional 1,308 shares in the last quarter. Finally, Fifth Third Bancorp purchased a new position in Anterix during the 1st quarter valued at approximately $64,000. 87.67% of the stock is currently owned by institutional investors.

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.