Anterix (NASDAQ:ATEX) Shares Gap Down – Here’s Why

Anterix Inc. (NASDAQ:ATEX) shares gapped down before the market opened on Thursday . The stock had previously closed at $33.62, but opened at $32.28. Anterix shares last traded at $33.01, with a volume of 31,957 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Craig Hallum raised Anterix to a “strong-buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. upped their price target on Anterix from $60.00 to $61.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th.

Anterix Stock Up 5.3 %

The company has a market capitalization of $624.81 million, a P/E ratio of -16.64 and a beta of 0.85. The firm has a fifty day simple moving average of $35.15 and a 200-day simple moving average of $35.47.

Institutional Trading of Anterix

Several hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in shares of Anterix during the second quarter worth $1,520,000. Renaissance Technologies LLC bought a new position in Anterix during the 2nd quarter worth about $1,334,000. Gamco Investors INC. ET AL raised its stake in shares of Anterix by 24.2% in the 1st quarter. Gamco Investors INC. ET AL now owns 93,295 shares of the company’s stock valued at $3,136,000 after purchasing an additional 18,195 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Anterix by 8.0% in the second quarter. Bank of New York Mellon Corp now owns 50,605 shares of the company’s stock valued at $2,003,000 after purchasing an additional 3,752 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Anterix during the second quarter worth about $362,000. 87.67% of the stock is currently owned by institutional investors and hedge funds.

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.