Anterix (NASDAQ:ATEX) Hits New 1-Year High – Still a Buy?

Anterix Inc. (NASDAQ:ATEX) reached a new 52-week high during trading on Tuesday . The company traded as high as $64.61 and last traded at $63.17, with a volume of 32820 shares trading hands. The stock had previously closed at $63.57.

Wall Street Analyst Weigh In

ATEX has been the topic of a number of recent analyst reports. Zacks Research lowered shares of Anterix from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 5th. Weiss Ratings upgraded shares of Anterix from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $50.00.

Anterix Price Performance

The business’s 50 day moving average price is $45.41 and its 200-day moving average price is $32.64. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 14.71 and a beta of 0.86.

Institutional Trading of Anterix

Institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC lifted its holdings in shares of Anterix by 63.7% in the first quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock valued at $36,000 after purchasing an additional 363 shares in the last quarter. Tower Research Capital LLC TRC increased its position in 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 during the last quarter. Quantbot Technologies LP acquired a new position in Anterix during the third quarter worth approximately $57,000. BNP Paribas Financial Markets increased its position in Anterix by 119.3% during the second quarter. BNP Paribas Financial Markets now owns 2,404 shares of the company’s stock worth $62,000 after purchasing an additional 1,308 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new position in Anterix during the first quarter worth approximately $64,000. 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.