Anterix (NASDAQ:ATEX) Reaches New 1-Year Low – Time to Sell?

Anterix Inc. (NASDAQ:ATEX)’s stock price hit 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.

Analyst Upgrades and Downgrades

Separately, Craig Hallum raised shares of Anterix to a “strong-buy” rating in a research note on Wednesday, October 9th.

Anterix Stock Performance

The stock has a market capitalization of $520.19 million, a PE ratio of -13.83 and a beta of 0.87. The firm has a 50 day moving average of $32.30 and a 200-day moving average of $35.42.

Insider Transactions at Anterix

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ATEX. nVerses Capital LLC purchased a new stake in shares of Anterix during the 3rd quarter worth about $45,000. Meeder Asset Management Inc. acquired a new position in Anterix in the third quarter worth approximately $58,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Anterix during the second quarter valued at approximately $92,000. Point72 DIFC Ltd lifted its stake in Anterix by 440.8% in the third quarter. Point72 DIFC Ltd now owns 2,639 shares of the company’s stock valued at $99,000 after acquiring an additional 2,151 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in Anterix in the second quarter valued at approximately $203,000. Hedge funds and other institutional investors own 87.67% of the company’s stock.

Anterix Company Profile

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.