Anterix (NASDAQ:ATEX – Get Free Report) announced its quarterly earnings results on Tuesday. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.05, FiscalAI reports. Anterix had a negative return on equity of 10.65% and a net margin of 933.03%. The company had revenue of $1.96 million for the quarter, compared to the consensus estimate of $2.05 million.
Anterix Stock Performance
Shares of NASDAQ ATEX traded down $5.31 during midday trading on Tuesday, hitting $75.47. 323,962 shares of the company traded hands, compared to its average volume of 368,608. Anterix has a 12-month low of $17.82 and a 12-month high of $113.00. The firm has a market cap of $1.48 billion, a P/E ratio of 21.56 and a beta of 0.87. The stock has a 50-day moving average price of $81.87 and a 200 day moving average price of $66.70.
Insiders Place Their Bets
In other Anterix news, insider Gena Ashe sold 4,357 shares of Anterix stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $85.44, for a total transaction of $372,262.08. Following the sale, the insider directly owned 5,174 shares of the company’s stock, valued at approximately $442,066.56. The trade was a 45.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Heather Martin sold 8,064 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $84.20, for a total value of $678,988.80. Following the transaction, the chief marketing officer owned 26,743 shares in the company, valued at $2,251,760.60. This trade represents a 23.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 124,841 shares of company stock valued at $10,975,765 over the last ninety days. 40.05% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the company. Weiss Ratings cut Anterix from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, October 26th. Wall Street Zen cut Anterix from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Clear Str upgraded Anterix to a “strong-buy” rating in a report on Monday, July 27th. JPMorgan Chase & Co. dropped their price target on Anterix from $133.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. Finally, DA Davidson set a $161.00 price target on shares of Anterix in a report on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $120.00.
Check Out Our Latest Research Report on ATEX
About Anterix
Anterix Inc. provides licensed wireless spectrum for private broadband networks, primarily serving electric, gas and water utilities and other critical-infrastructure organizations. Its business focuses on making 900 MHz spectrum available to customers that want dedicated communications networks for operational needs such as grid monitoring, automation and resilience. The company’s spectrum holdings cover areas across the United States. Anterix works with utilities and technology partners to support the development of private LTE networks, offering spectrum access and related planning and ecosystem support rather than operating a public mobile network.
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