Anterix (NASDAQ:ATEX) Sees Large Volume Increase – Should You Buy?

Anterix Inc. (NASDAQ:ATEX) shares saw an uptick in trading volume on Thursday . 665,750 shares traded hands during trading, an increase of 68% from the previous session’s volume of 395,272 shares.The stock last traded at $36.3950 and had previously closed at $32.88.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ATEX shares. Weiss Ratings upgraded shares of Anterix from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, February 11th. Zacks Research cut shares of Anterix from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Anterix presently has a consensus rating of “Hold” and an average price target of $50.00.

Anterix Price Performance

The stock has a market capitalization of $672.78 million, a price-to-earnings ratio of 8.26 and a beta of 0.86. The stock’s 50 day simple moving average is $25.34 and its 200-day simple moving average is $22.63.

Anterix (NASDAQ:ATEX) last released its quarterly earnings data on Wednesday, February 11th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.22. Anterix had a net margin of 1,370.92% and a negative return on equity of 12.26%. The business had revenue of $1.57 million during the quarter, compared to analyst estimates of $1.47 million. As a group, equities research analysts anticipate that Anterix Inc. will post -1.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Scott A. Lang bought 1,160 shares of the firm’s stock in a transaction on Thursday, December 18th. The stock was purchased at an average price of $21.61 per share, with a total value of $25,067.60. Following the completion of the transaction, the chief executive officer directly owned 8,260 shares of the company’s stock, valued at $178,498.60. This trade represents a 16.34% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 45.61% of the company’s stock.

Institutional Trading of Anterix

Several large investors have recently modified their holdings of the company. Gamco Investors INC. ET AL lifted its position in shares of Anterix by 35.0% during the 2nd quarter. Gamco Investors INC. ET AL now owns 273,425 shares of the company’s stock worth $7,013,000 after purchasing an additional 70,855 shares during the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of Anterix by 374,815.0% during the third quarter. SBI Securities Co. Ltd. now owns 74,983 shares of the company’s stock worth $1,610,000 after buying an additional 74,963 shares during the last quarter. AYAL Capital Advisors Ltd boosted its position in shares of Anterix by 143.4% in the second quarter. AYAL Capital Advisors Ltd now owns 240,171 shares of the company’s stock valued at $6,160,000 after acquiring an additional 141,500 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Anterix in the second quarter worth $1,588,000. Finally, Geode Capital Management LLC increased its position in Anterix by 8.7% during the second quarter. Geode Capital Management LLC now owns 383,557 shares of the company’s stock worth $9,840,000 after acquiring an additional 30,575 shares during the period. 87.67% of the stock is owned by institutional investors.

About Anterix

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.