Anterix (NASDAQ:ATEX) Hits New 12-Month Low - Time to Sell?

Anterix Inc. (NASDAQ:ATEX - Get Free Report)'s share price reached a new 52-week low during trading on Monday . The stock traded as low as $28.20 and last traded at $29.23, with a volume of 13252 shares trading hands. The stock had previously closed at $28.80.

Wall Street Analyst Weigh In

Separately, Craig Hallum upgraded Anterix to a "strong-buy" rating in a report on Wednesday, October 9th.

Anterix Price Performance

The company has a market cap of $520.00 million, a price-to-earnings ratio of -13.83 and a beta of 0.87. The business's fifty day moving average price is $32.42 and its 200 day moving average price is $35.50.

Insiders Place Their Bets

In other news, Director Mark Fleischhauer purchased 3,500 shares of the company's stock in a transaction dated Thursday, December 5th. The shares were purchased at an average price of $34.19 per share, for a total transaction of $119,665.00. Following the transaction, the director now owns 3,500 shares of the company's stock, valued at approximately $119,665. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Leslie B. Daniels acquired 2,000 shares of the firm's stock in a transaction dated Wednesday, November 20th. The shares were purchased at an average price of $32.75 per share, with a total value of $65,500.00. Following the completion of the transaction, the director now owns 2,000 shares of the company's stock, valued at $65,500. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 45.61% of the company's stock.

Institutional Investors Weigh In On Anterix

Hedge funds have recently added to or reduced their stakes in the business. Woodmont Investment Counsel LLC lifted its position in shares of Anterix by 2.4% during the 3rd quarter. Woodmont Investment Counsel LLC now owns 34,545 shares of the company's stock valued at $1,301,000 after acquiring an additional 800 shares during the period. Y Intercept Hong Kong Ltd increased its stake in Anterix by 14.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 8,742 shares of the company's stock valued at $329,000 after purchasing an additional 1,112 shares in the last quarter. Squarepoint Ops LLC raised its holdings in shares of Anterix by 4.6% during the second quarter. Squarepoint Ops LLC now owns 26,261 shares of the company's stock valued at $1,040,000 after purchasing an additional 1,159 shares during the period. nVerses Capital LLC bought a new position in shares of Anterix during the 3rd quarter worth about $45,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Anterix in the 3rd quarter valued at about $58,000. 87.67% of the stock is currently owned by institutional investors.

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.