Anterix (NASDAQ:ATEX) Hits New 12-Month High – What’s Next?

Anterix Inc. (NASDAQ:ATEX)’s stock price hit a new 52-week high on Monday . The company traded as high as $71.79 and last traded at $67.0750, with a volume of 67282 shares traded. The stock had previously closed at $66.64.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Weiss Ratings upgraded shares of Anterix from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, April 21st. B. Riley Financial lowered shares of Anterix from a “buy” rating to a “neutral” rating and raised their price objective for the company from $44.00 to $69.00 in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $59.50.

Anterix Stock Down 2.6%

The firm has a market capitalization of $1.21 billion, a P/E ratio of 14.84 and a beta of 0.95. The firm’s 50-day simple moving average is $51.36 and its 200-day simple moving average is $36.19.

Institutional Investors Weigh In On Anterix

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in Anterix during the fourth quarter valued at about $1,059,000. GABELLI & Co INVESTMENT ADVISERS INC. raised its position in Anterix by 219.3% during the third quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 52,200 shares of the company’s stock valued at $1,121,000 after purchasing an additional 35,850 shares in the last quarter. Gamco Investors INC. ET AL raised its position in Anterix by 17.1% during the third quarter. Gamco Investors INC. ET AL now owns 320,070 shares of the company’s stock valued at $6,872,000 after purchasing an additional 46,645 shares in the last quarter. GSA Capital Partners LLP raised its position in Anterix by 22.3% during the fourth quarter. GSA Capital Partners LLP now owns 72,976 shares of the company’s stock valued at $1,593,000 after purchasing an additional 13,324 shares in the last quarter. Finally, Gabelli Funds LLC lifted its holdings in shares of Anterix by 52.2% in the 3rd quarter. Gabelli Funds LLC now owns 286,282 shares of the company’s stock worth $6,146,000 after acquiring an additional 98,130 shares during the last quarter. Hedge funds and other institutional investors own 87.67% of the company’s stock.

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.