Billy Duberstein, The Motley Fool Thu, November 12, 2026 at 4:29 PM EST 3 min read ATEX +8.05% NVDA -3.56% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Shares of Anterix (NASDAQ:ATEX) rallied on Thursday, up 8.0% on the day.
Anterix received a positive sell-side analyst note today, two days after its September-quarter earnings report.
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Anterix doesn't currently have much of an operating business, but it does hold valuable low-band spectrum. With increased competition to control wireless spectrum these days, the analyst thinks Anterix will benefit from higher prices for these scarce assets.
Today, telecom analysts at B. Riley upgraded their price target on Anterix from $86 to $103. Following Tuesday's earnings release and conference call, the analysts now appear more bullish on potential pricing for any deal involving Anterix's spectrum assets. The analysts note that there is "very real competition for scarce spectrum resources coveted by global satellite operators" and highlighted the recent purchase of 800 MHz spectrum by Space Exploration Technologies (NASDAQ:SPCX) from Grain Management as evidence.
Anterix is currently focused on leasing its 900 MHz spectrum and building services around it, rather than an outright sale. However, management may sell spectrum to a bidder outright if the price is high enough. CEO Scott Lang said on the recent conference call with analysts that "the number of available nationwide low-band assets is down to one, and it is Anterix."
After today's gain, Anterix has roughly a $1.5 billion market cap, even though it has only just over $7 million in revenue over the past 12 months. So, the company's entire value appears to be entirely in its 900 MHz spectrum assets.
It appears, at least to B. Riley analysts, that the price of that asset is significantly higher than the market is currently pricing in. Therefore, Anterix may be of interest to some investors looking for idiosyncratic bets. Just be aware that the timing of any purchase is highly speculative, and spectrum asset prices can fluctuate.
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Billy Duberstein and/or his clients have no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Space Exploration Technologies. The Motley Fool has a disclosure policy.
Why Anterix Rallied Today was originally published by The Motley Fool
