Anterix (NASDAQ:ATEX) Upgraded by Craig Hallum to Strong-Buy

Anterix (NASDAQ:ATEX) was upgraded by research analysts at Craig Hallum to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

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

Anterix Stock Down 3.8 %

Anterix stock opened at $32.02 on Wednesday. Anterix has a 52-week low of $28.70 and a 52-week high of $42.41. The firm has a fifty day moving average of $37.18 and a 200-day moving average of $35.36. The firm has a market capitalization of $595.25 million, a P/E ratio of -26.25 and a beta of 0.83.

Anterix (NASDAQ:ATEX) last released 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). Anterix had a negative return on equity of 27.91% and a negative net margin of 441.15%. The business had revenue of $1.53 million during the quarter, compared to analyst estimates of $1.64 million. During the same period in the previous year, the company earned ($0.11) EPS. On average, research analysts expect that Anterix will post -2.64 EPS for the current fiscal year.

Institutional Investors Weigh In On Anterix

A number of large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in Anterix during the 2nd quarter worth $28,000. Motco acquired a new position in Anterix during the 1st quarter worth $44,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Anterix in the 2nd quarter worth about $92,000. Jupiter Asset Management Ltd. bought a new position in shares of Anterix in the 2nd quarter worth about $200,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Anterix in the 2nd quarter worth about $203,000. 87.67% of the stock is owned by institutional investors and hedge funds.

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.