Anterix (NASDAQ:ATEX) Announces Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Anterix (NASDAQ:ATEX - Get Free Report) posted its quarterly earnings results on Tuesday. The company reported ($0.46) EPS for the quarter, topping analysts' consensus estimates of ($0.57) by $0.11, Zacks reports. Anterix had a negative return on equity of 31.07% and a negative net margin of 666.54%.

Anterix Stock Up 2.8 %

ATEX traded up $1.14 during trading on Friday, hitting $41.66. The company's stock had a trading volume of 174,274 shares, compared to its average volume of 134,983. Anterix has a twelve month low of $27.37 and a twelve month high of $42.41. The stock's fifty day moving average price is $30.93 and its 200-day moving average price is $33.94. The firm has a market capitalization of $774.33 million, a P/E ratio of -20.62 and a beta of 0.87.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. boosted their price objective on Anterix from $61.00 to $67.00 and gave the stock an "overweight" rating in a research report on Thursday.

Insider Buying and Selling at Anterix

In related news, Director Leslie B. Daniels purchased 2,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was acquired at an average cost of $32.75 per share, with a total value of $65,500.00. Following the transaction, the director now owns 2,000 shares of the company's stock, valued at $65,500. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Fleischhauer acquired 3,500 shares of Anterix stock in a transaction on Thursday, December 5th. The stock was acquired at an average price of $34.19 per share, with a total value of $119,665.00. Following the purchase, the director now directly owns 3,500 shares in the company, valued at approximately $119,665. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 45.61% 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.