Anterix Inc. (NASDAQ:ATEX) Stock Has Average Price Target of $120.00 According to Analysts

Shares of Anterix Inc. (NASDAQ:ATEX) have earned a consensus recommendation of “Moderate Buy” from the five analysts that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $120.00.

Several equities analysts have recently weighed in on the company. B. Riley Financial cut Anterix from a “buy” rating to a “neutral” rating and increased their price target for the company from $44.00 to $69.00 in a report on Thursday, June 4th. Clear Str raised Anterix to a “strong-buy” rating in a report on Monday, July 27th. Weiss Ratings cut Anterix from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, September 17th. DA Davidson set a $161.00 target price on Anterix in a research report on Friday, August 21st. Finally, JPMorgan Chase & Co. cut their price target on Anterix from $133.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th.

Insider Buying and Selling

In related news, insider Christopher Guttman-Mccabe sold 23,439 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $92.36, for a total value of $2,164,826.04. Following the transaction, the insider owned 44,876 shares of the company’s stock, valued at approximately $4,144,747.36. This trade represents a 34.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Scott Lang sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $80.00, for a total transaction of $1,200,000.00. Following the sale, the chief executive officer directly owned 26,470 shares of the company’s stock, valued at approximately $2,117,600. This represents a 36.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 119,860 shares of company stock valued at $10,575,143 in the last 90 days. 40.05% of the stock is owned by insiders.

Institutional Investors Weigh In On Anterix

Hedge funds and other institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC purchased a new position in Anterix during the second quarter valued at $35,000. Parallel Advisors LLC lifted its position in shares of Anterix by 63.7% during the 1st quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock valued at $36,000 after buying an additional 363 shares in the last quarter. Fifth Third Bancorp purchased a new position in shares of Anterix during the 1st quarter valued at about $64,000. Legal & General Group Plc bought a new position in shares of Anterix during the 2nd quarter valued at approximately $222,000. Finally, Ieq Capital LLC bought a new position in shares of Anterix during the 2nd quarter valued at approximately $226,000. 87.67% of the stock is currently owned by hedge funds and other institutional investors.

Anterix Stock Performance

ATEX opened at $81.33 on Friday. The stock has a market capitalization of $1.59 billion, a P/E ratio of 23.24 and a beta of 0.84. The company’s 50-day simple moving average is $90.36 and its two-hundred day simple moving average is $71.38. Anterix has a 52-week low of $17.58 and a 52-week high of $113.00.

Anterix (NASDAQ:ATEX) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.44. Anterix had a net margin of 933.03% and a negative return on equity of 10.65%. The firm had revenue of $1.96 million during the quarter, compared to analyst estimates of $2.00 million. Research analysts forecast that Anterix will post -2 EPS for the current fiscal year.

Anterix Company Profile

Anterix Inc (NASDAQ: ATEX) provides private wireless broadband solutions for critical infrastructure organizations, with a primary focus on electric utilities in the United States. The company’s services are designed to support mission-critical communications, grid modernization, operational technology, and other applications that require secure and reliable connectivity.

Anterix owns and manages licensed spectrum in the 900 MHz band and makes that spectrum available through arrangements with utility and infrastructure customers.