Anterix (NASDAQ:ATEX) Reaches New 12-Month Low - What's Next?

Anterix Inc. (NASDAQ:ATEX) has recently recorded a new low in its stock price, achieving a 52-week low during trading sessions. On Tuesday, shares fell to as low as $28.95 before closing at $29.22, with a trading volume of 34,903 shares. This represents a slight drop from the previous day's closing price of $29.66.

Wall Street Analysts Are Optimistic

Despite the recent decline in share prices, analysts are maintaining a positive outlook for Anterix. A notable upgrade came from Craig Hallum, which raised the company's rating to "strong-buy" in a research note issued on October 9th.

Stock Performance Overview

Currently, Anterix has a market capitalization of approximately $536.76 million. The stock's price-to-earnings (PE) ratio stands at -14.27, which is indicative of negative earnings over the past year, and it has a beta value of 0.87, suggesting that its stock price is less volatile compared to the broader market. The company’s 50-day moving average price is $32.80 and the 200-day moving average price is $35.59, showing the trend of the stock price over a significant period.

Insider Transactions

In shareholder news, Director Mark Fleischhauer made an acquisition of 3,500 shares of Anterix on December 5th, buying them at an average price of $34.19 per share for a total investment of $119,665. This acquisition indicates a strong personal commitment to the company, raising his ownership stake significantly. Additionally, Director Leslie B. Daniels purchased 2,000 shares at an average cost of $32.75 on November 20th, for a transaction of $65,500, also increasing his stake in the company. Overall, company insiders currently own about 45.61% of Anterix stock.

Institutional Investors' Activities

Recent activity from institutional investors reveals a mix of buying and selling activity in Anterix shares. Allspring Global Investments Holdings LLC entered a position during the second quarter, purchasing shares worth around $28,000. Woodmont Investment Counsel LLC raised its position by 2.4% in the third quarter, owning 34,545 shares valued at $1.301 million after an additional acquisition of 800 shares. Y Intercept Hong Kong Ltd also increased its stake by 14.6%, acquiring an additional 1,112 shares, bringing its total to 8,742 shares valued at $329,000. Squarepoint Ops LLC boosted its holdings by 4.6%, owning 26,261 shares after buying 1,159 additional shares. Furthermore, nVerses Capital LLC acquired a new position in Anterix valued at around $45,000. Notably, institutional investors collectively hold approximately 87.67% of the company's stock.

About Anterix Inc.

Anterix Inc. operates primarily in the wireless communications sector. The company is focused on utilizing its spectrum assets to support utility and critical infrastructure clients in implementing private broadband networks and innovative broadband solutions. It possesses licensed spectrum in the 900 MHz band, allowing for extensive coverage throughout the United States, including regions such as Alaska, Hawaii, and Puerto Rico.

Should You Invest in Anterix?

As investors consider Anterix, opinions vary. While the stock has a current "Buy" rating from analysts, many note that other stocks may provide better potential for investment. It’s important for investors to research and compare these opportunities before making financial decisions.

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