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

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

Analyst Upgrades and Downgrades

Several brokerages have commented on ATEX. Zacks Research cut shares of Anterix from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 5th. Weiss Ratings raised shares of Anterix from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, April 21st. One 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, the stock presently has a consensus rating of “Hold” and a consensus price target of $50.00.

Anterix Stock Performance

The company has a market cap of $1.20 billion, a PE ratio of 14.71 and a beta of 0.86. The company’s 50-day simple moving average is $45.41 and its 200 day simple moving average is $32.64.

Institutional Investors Weigh In On Anterix

Several institutional investors have recently modified their holdings of the company. Bank of America Corp DE lifted its position in shares of Anterix by 17.2% during the 1st quarter. Bank of America Corp DE now owns 167,781 shares of the company’s stock worth $6,408,000 after purchasing an additional 24,657 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Anterix by 151.2% during the 1st quarter. Royal Bank of Canada now owns 3,034 shares of the company’s stock worth $116,000 after purchasing an additional 1,826 shares during the last quarter. Quantinno Capital Management LP lifted its position in shares of Anterix by 64.6% during the 1st quarter. Quantinno Capital Management LP now owns 15,619 shares of the company’s stock worth $596,000 after purchasing an additional 6,132 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Anterix by 0.8% during the 1st quarter. Gamco Investors INC. ET AL now owns 425,820 shares of the company’s stock worth $16,262,000 after purchasing an additional 3,350 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Anterix by 30.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 424,856 shares of the company’s stock worth $16,223,000 after purchasing an additional 99,933 shares during the last quarter. 87.67% of the stock is owned by hedge funds and other 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.