Anterix Inc. (NASDAQ:ATEX) is a stock to watch today. At current price of $41.13, the shares have already added 2.56 points (6.64% higher) from its previous close of $38.57. The stock sets an active trading volume day with a reported 106917 contracts so far this session. ATEX shares had a relatively better volume day versus average trading capacity of 137.42 thousand shares, but with a 15.61 million float and a 0.73% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ATEX stock indicates that the average analyst price target is $66.67 per share. This means the stock has a potential increase of 62.1% from where the ATEX share price has been trading recently which is between $37.39 and $38.855. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $59. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $80.
Looking at the current readings for Anterix Inc., the two-week RSI stands at 60.79. This figure suggests that ATEX stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current ATEX readings is similarly very revealing as it has a stochastic reading of 72.01% at this stage. This figure means that ATEX share price today is being oversold.
Technical chart claims that Anterix Inc. (ATEX) would settle between $39.15/share to $39.74/share level. However, if the stock price goes below the $37.69 mark, then the market for Anterix Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $36.81 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.48. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Evercore ISI, assumed coverage of ATEX assigning Outperform rating, according to their opinion released on August 09.
ATEX equity has an average rating of 1.83, with the figure leaning towards a bullish end. 3 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 3 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 3 analysts rated Anterix Inc. (NASDAQ:ATEX) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, ATEX stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 24.8. Anterix Inc. current P/B ratio of 3.8 means it is trading at a premium against its industry’s 1.6.
Anterix Inc. (ATEX)’s current-quarter revenues are projected to climb by nearly -76.4% to hit $430000, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -67.8% from $6.5 million to a noteworthy $2.09 million. At the other end of the current quarter income statement, Anterix Inc. is expected to see its adjusted earnings surge by roughly 27.2% to hit $-0.59 per share. For the fiscal year, ATEX’s earnings are projected to climb by roughly -10.1% to hit $-3.17 per share.