Anterix (NASDAQ:ATEX) Sees Strong Trading Volume

Shares of Anterix Inc. (NASDAQ:ATEX) saw unusually-high trading volume on Tuesday . Approximately 49,455 shares traded hands during mid-day trading, a decline of 67% from the previous session’s volume of 149,775 shares.The stock last traded at $39.49 and had previously closed at $38.96.

Wall Street Analysts Forecast Growth

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

Anterix Trading Up 1.1 %

The firm has a market capitalization of $732.45 million, a P/E ratio of -79.51 and a beta of 0.83. The stock’s 50-day simple moving average is $38.42 and its 200-day simple moving average is $35.18.

Anterix (NASDAQ:ATEX) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.84) 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 during the quarter, compared to the consensus estimate of $1.64 million. During the same period last year, the firm posted ($0.11) EPS. On average, equities research analysts expect that Anterix Inc. will post -2.64 EPS for the current year.

Hedge Funds Weigh In On Anterix

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP raised its position in shares of Anterix by 250.2% in the second quarter. Marshall Wace LLP now owns 58,652 shares of the company’s stock valued at $2,322,000 after purchasing an additional 41,905 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Anterix during the second quarter worth $1,520,000. Renaissance Technologies LLC purchased a new stake in shares of Anterix during the second quarter worth $1,334,000. Gamco Investors INC. ET AL grew its position in shares of Anterix by 24.2% in the first quarter. Gamco Investors INC. ET AL now owns 93,295 shares of the company’s stock valued at $3,136,000 after purchasing an additional 18,195 shares in the last quarter. Finally, Heard Capital LLC lifted its holdings in Anterix by 0.9% during the 4th quarter. Heard Capital LLC now owns 1,829,551 shares of the company’s stock worth $60,961,000 after purchasing an additional 16,420 shares in the last quarter. Institutional investors own 87.67% of the company’s stock.

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.