Anterix (NASDAQ:ATEX) Shares Up 3.4% – What’s Next?

Anterix Inc. (NASDAQ:ATEX)’s share price shot up 3.4% on Wednesday . The company traded as high as $32.28 and last traded at $32.28. 29,348 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 157,213 shares. The stock had previously closed at $31.23.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ATEX shares. JPMorgan Chase & Co. upped their target price on shares of Anterix from $60.00 to $61.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Craig Hallum raised shares of Anterix to a “strong-buy” rating in a report on Wednesday, October 9th.

Anterix Price Performance

The stock’s 50 day simple moving average is $36.14 and its two-hundred day simple moving average is $35.33. The stock has a market cap of $610.73 million, a P/E ratio of -67.71 and a beta of 0.83.

Anterix (NASDAQ:ATEX) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.39). Anterix had a negative net margin of 441.15% and a negative return on equity of 27.91%. The company had revenue of $1.53 million during the quarter, compared to analyst estimates of $1.64 million. During the same quarter in the prior year, the firm earned ($0.11) earnings per share. As a group, analysts forecast that Anterix Inc. will post -2.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in shares of Anterix during the 2nd quarter worth approximately $28,000. Motco purchased a new stake in shares of Anterix during the 1st quarter valued at $44,000. nVerses Capital LLC purchased a new stake in shares of Anterix during the 3rd quarter valued at $45,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Anterix during the 2nd quarter valued at $92,000. Finally, Jupiter Asset Management Ltd. purchased a new stake in shares of Anterix during the 2nd quarter valued at $200,000. Institutional investors and hedge funds own 87.67% of the company’s stock.

About Anterix

Anterix Inc operates as a wireless communications company. The company focuses on commercializing its spectrum assets to enable the targeted utility and critical infrastructure customers to deploy private broadband networks and innovative broadband solutions. It holds licensed spectrum in the 900 MHz band with coverage throughout the United States, Alaska, Hawaii, and Puerto Rico.