Anterix (NASDAQ:ATEX) Trading Up 3.4% – Here’s What Happened

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

Wall Street Analysts Forecast Growth

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

Anterix Trading Up 5.4 %

The firm has a market cap of $611.80 million, a PE ratio of -25.60 and a beta of 0.83. The business has a fifty day moving average price of $36.34 and a 200 day moving average price of $35.35.

Anterix (NASDAQ:ATEX) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.39). Anterix had a negative return on equity of 27.91% and a negative net margin of 441.15%. The company had revenue of $1.53 million for the quarter, compared to analyst estimates of $1.64 million. During the same period in the previous year, the business posted ($0.11) earnings per share. On average, research analysts expect that Anterix Inc. will post -2.64 earnings per share for the current fiscal year.

Institutional Trading of Anterix

Several hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC acquired a new position in Anterix during the second quarter worth $28,000. Motco acquired a new position in Anterix during the first quarter worth $44,000. nVerses Capital LLC acquired a new position in Anterix during the third quarter worth $45,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Anterix during the second quarter worth $92,000. Finally, Jupiter Asset Management Ltd. acquired a new position in Anterix during the second quarter worth $200,000. 87.67% of the stock is owned by institutional investors and hedge funds.

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.