Anterix (NASDAQ:ATEX) Shares Down 4.1% – What’s Next?

Anterix Inc. (NASDAQ:ATEX)’s share price traded down 4.1% during trading on Wednesday . The company traded as low as $33.81 and last traded at $33.94. 96,602 shares changed hands during trading, a decline of 38% from the average session volume of 156,449 shares. The stock had previously closed at $35.38.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. upped their target price on shares of Anterix from $60.00 to $61.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th.

Anterix Stock Performance

The business has a 50-day moving average of $37.47 and a 200-day moving average of $35.39. The stock has a market capitalization of $636.89 million, a price-to-earnings ratio of -72.20 and a beta of 0.83.

Anterix (NASDAQ:ATEX) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.84) earnings per share (EPS) 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 analysts’ expectations of $1.64 million. During the same period in the prior year, the business earned ($0.11) EPS. On average, research analysts predict that Anterix Inc. will post -2.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP grew its stake in Anterix by 250.2% in the 2nd quarter. Marshall Wace LLP now owns 58,652 shares of the company’s stock valued at $2,322,000 after acquiring an additional 41,905 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Anterix in the second quarter worth $1,520,000. Renaissance Technologies LLC bought a new stake in shares of Anterix in the second quarter worth $1,334,000. Gamco Investors INC. ET AL boosted its stake in Anterix by 24.2% during the 1st quarter. Gamco Investors INC. ET AL now owns 93,295 shares of the company’s stock valued at $3,136,000 after acquiring an additional 18,195 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new position in shares of Anterix during the first quarter worth about $430,000. 87.67% of the stock is owned by hedge funds and other institutional investors.

Anterix Company Profile

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.