Short Interest in Anterix Inc. (NASDAQ:ATEX) Grows By 15.2%

Anterix Inc. (NASDAQ:ATEX - Get Free Report) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 775,100 shares, a growth of 15.2% from the September 30th total of 672,900 shares. Based on an average daily volume of 225,400 shares, the short-interest ratio is currently 3.4 days.

Wall Street Analysts Forecast Growth

ATEX has been the topic of several research analyst reports. Craig Hallum raised Anterix to a "strong-buy" rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. raised their target price on shares of Anterix from $60.00 to $61.00 and gave the company an "overweight" rating in a research report on Thursday, August 8th.

Anterix Stock Performance

Shares of NASDAQ:ATEX traded down $0.26 during midday trading on Tuesday, hitting $32.71. 84,010 shares of the stock were exchanged, compared to its average volume of 156,500. The business's 50-day moving average price is $35.91 and its 200 day moving average price is $35.36. The stock has a market capitalization of $608.24 million, a price-to-earnings ratio of -67.35 and a beta of 0.83. Anterix has a 12 month low of $28.70 and a 12 month high of $42.41.

Anterix (NASDAQ:ATEX - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported ($0.84) 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 company had revenue of $1.53 million for the quarter, compared to analyst estimates of $1.64 million. During the same period in the previous year, the firm posted ($0.11) earnings per share. As a group, sell-side analysts expect that Anterix will post -2.64 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in Anterix during the second quarter worth $28,000. Motco acquired a new position in shares of Anterix in the 1st quarter valued at about $44,000. nVerses Capital LLC bought a new stake in shares of Anterix during the 3rd quarter valued at about $45,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Anterix during the second quarter worth approximately $92,000. Finally, Jupiter Asset Management Ltd. bought a new stake in Anterix in the second quarter worth approximately $200,000. Institutional investors own 87.67% 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.