Anterix (NASDAQ:ATEX) Lifted to Strong-Buy at Craig Hallum

Craig Hallum upgraded shares of Anterix (NASDAQ:ATEX) to a strong-buy rating in a research note released on Wednesday morning, Zacks.com reports.

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

Anterix Trading Down 1.6 %

Shares of Anterix stock opened at $31.50 on Wednesday. The stock has a market capitalization of $585.59 million, a price-to-earnings ratio of -25.82 and a beta of 0.83. Anterix has a 1-year low of $28.70 and a 1-year high of $42.41. The firm has a fifty day simple moving average of $37.04 and a 200-day simple moving average of $35.36.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ATEX. Allspring Global Investments Holdings LLC acquired a new position in Anterix in the second quarter worth $28,000. Motco bought a new stake in shares of Anterix during the first quarter valued at approximately $44,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Anterix in the 2nd quarter worth approximately $92,000. Jupiter Asset Management Ltd. acquired a new stake in shares of Anterix in the 2nd quarter valued at $200,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Anterix during the second quarter worth $203,000. Institutional investors own 87.67% of the company’s stock.

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.