Anterix (NASDAQ:ATEX) Shares Down 9.5% – Here’s Why

Anterix Inc. (NASDAQ:ATEX)’s stock price traded down 9.5% during mid-day trading on Wednesday . The stock traded as low as $79.91 and last traded at $84.0820. 87,657 shares changed hands during trading, a decline of 78% from the average session volume of 395,213 shares. The stock had previously closed at $92.94.

More Anterix News

Here are the key news stories impacting Anterix this week:

• Positive Sentiment: JPMorgan remains bullish: JPMorgan lowered its price target modestly from $133 to $130 but upgraded or reaffirmed an “overweight” view, implying roughly 42% upside from the referenced price. The target reduction appears limited relative to the continued positive rating. Benzinga
• Positive Sentiment: Spectrum optionality is expanding: Anterix highlighted rising demand for licensed low-band spectrum, accelerating strategic interest, and several potential monetization paths as nationwide spectrum clearing progresses. Anterix Q1 Earnings Call Focuses on Spectrum Optionality
• Positive Sentiment: Additional contracted proceeds and SpaceX support: Anterix outlined approximately $10 million in additional contracted proceeds for the remainder of fiscal 2027. The company also supported SpaceX’s FCC proposal, which could broaden future uses and strategic value for Anterix’s spectrum holdings. Anterix Outlines Additional Contracted Proceeds Anterix Statement Supporting SpaceX Proposal
• Positive Sentiment: Quarterly results exceeded earnings expectations: Fiscal Q1 2027 revenue increased 38.1%, while Anterix reported a $0.01-per-share profit versus consensus expectations for a $0.43 loss. The earnings improvement indicates better-than-expected near-term performance, although revenue of $1.96 million was slightly below the $2.00 million estimate. Anterix Reports Narrower-Than-Expected Q1 Loss
• Negative Sentiment: Profit-taking and execution concerns remain: Despite the earnings beat, reports indicated that the stock declined after results, likely reflecting the slightly light revenue, ongoing spectrum-clearing costs, and continued uncertainty around the timing of spectrum monetization. Analysts still expect a full-year loss.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ATEX. JPMorgan Chase & Co. lowered their price target on Anterix from $133.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday. B. Riley Financial lowered Anterix from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $44.00 to $69.00 in a research report on Thursday, June 4th. Weiss Ratings raised Anterix from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 26th. Wall Street Zen upgraded Anterix from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Finally, Clear Str raised shares of Anterix to a “strong-buy” rating in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Anterix currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.50.

Anterix Trading Up 3.0%

The firm’s fifty day moving average price is $92.06 and its 200 day moving average price is $59.92. The firm has a market capitalization of $1.79 billion, a PE ratio of 26.14 and a beta of 0.85.

Anterix (NASDAQ:ATEX) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.44. The business had revenue of $1.96 million during the quarter, compared to analyst estimates of $2.00 million. Anterix had a negative return on equity of 11.07% and a net margin of 933.03%. As a group, research analysts expect that Anterix Inc. will post -2.07 EPS for the current year.

Insider Buying and Selling

In other news, insider Christopher Guttman-Mccabe sold 91,437 shares of Anterix stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $82.46, for a total transaction of $7,539,895.02. Following the completion of the sale, the insider directly owned 77,807 shares in the company, valued at $6,415,965.22. The trade was a 54.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gena L. Ashe sold 17,711 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $81.31, for a total value of $1,440,081.41. Following the completion of the sale, the insider directly owned 9,531 shares of the company’s stock, valued at approximately $774,965.61. The trade was a 65.01% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 124,109 shares of company stock worth $10,174,158. Insiders own 40.05% of the company’s stock.

Hedge Funds Weigh In On Anterix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATEX. Parallel Advisors LLC grew its position in Anterix by 63.7% in the first quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock worth $36,000 after acquiring an additional 363 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Anterix by 299.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company’s stock worth $42,000 after purchasing an additional 1,233 shares during the last quarter. Fifth Third Bancorp bought a new position in shares of Anterix during the 1st quarter valued at $64,000. Ieq Capital LLC bought a new position in shares of Anterix during the 2nd quarter valued at $226,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of Anterix by 119.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,404 shares of the company’s stock valued at $62,000 after purchasing an additional 1,308 shares during the last quarter. Institutional investors own 87.67% of the company’s stock.

Anterix Company Profile

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.