Anterix (NASDAQ:ATEX) Shares Up 3.4% - Still a Buy?

Anterix Inc. (NASDAQ:ATEX - Get Free Report) shares shot up 3.4% during mid-day trading on Wednesday . The stock traded as high as $32.28 and last traded at $32.28. 29,348 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 157,213 shares. The stock had previously closed at $31.23.

Analysts Set New Price Targets

Several analysts have recently weighed in on ATEX shares. JPMorgan Chase & Co. lifted their price objective on shares of Anterix from $60.00 to $61.00 and gave the company an "overweight" rating in a research note on Thursday, August 8th. Craig Hallum upgraded shares of Anterix to a "strong-buy" rating in a report on Wednesday, October 9th.

Anterix Stock Performance

The stock's 50 day simple moving average is $36.25 and its 200 day simple moving average is $35.34. The firm has a market cap of $623.51 million, a P/E ratio of -27.49 and a beta of 0.83.

Anterix (NASDAQ:ATEX - Get Free Report) last announced its earnings results 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). The company had revenue of $1.53 million for the quarter, compared to analysts' expectations of $1.64 million. Anterix had a negative net margin of 441.15% and a negative return on equity of 27.91%. During the same period in the previous year, the firm earned ($0.11) EPS. As a group, analysts forecast that Anterix Inc. will post -2.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATEX. Allspring Global Investments Holdings LLC bought a new position in shares of Anterix during the 2nd quarter worth approximately $28,000. nVerses Capital LLC purchased a new position in Anterix in the third quarter worth $45,000. Motco bought a new position in Anterix in the 1st quarter valued at $44,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Anterix during the 2nd quarter valued at $92,000. Finally, Jupiter Asset Management Ltd. bought a new stake in shares of Anterix during the 2nd quarter worth $200,000. 87.67% of the stock is currently owned by hedge funds and other 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.