Anterix Inc. (NASDAQ:ATEX) Short Interest Up 15.2% in October

Anterix Inc. (NASDAQ:ATEX) was the target of a large growth in short interest in 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 days-to-cover ratio is currently 3.4 days.

Anterix Stock Performance

NASDAQ:ATEX opened at $33.02 on Thursday. The company has a market capitalization of $614.01 million, a price-to-earnings ratio of -67.39 and a beta of 0.83. Anterix has a 52 week low of $28.70 and a 52 week high of $42.41. The company has a 50-day moving average of $35.81 and a 200-day moving average of $35.36.

Anterix (NASDAQ:ATEX) last posted its earnings results on Tuesday, August 6th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.39). Anterix had a negative net margin of 441.15% and a negative return on equity of 27.91%. The firm had revenue of $1.53 million during the quarter, compared to the consensus estimate of $1.64 million. During the same quarter last year, the firm posted ($0.11) EPS. Sell-side analysts forecast that Anterix will post -2.64 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on ATEX. 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 report on Thursday, August 8th. Craig Hallum raised shares of Anterix to a “strong-buy” rating in a research note on Wednesday, October 9th.

Hedge Funds Weigh In On Anterix

Several hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in shares of Anterix in the 2nd quarter valued at about $28,000. Motco acquired a new stake in Anterix during the 1st quarter worth $44,000. nVerses Capital LLC bought a new stake in shares of Anterix during the 3rd quarter valued at $45,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Anterix in the 2nd quarter valued at $92,000. Finally, Jupiter Asset Management Ltd. bought a new position in shares of Anterix in the 2nd quarter worth $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.