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ATEX

AnterixF
Nasdaq / Telecommunication Services
Last Price
Quote time unavailable
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Current thesis
ATEX still owns scarce 900 MHz utility-focused spectrum, disclosed $177.0 million of remaining performance obligations as of December 31, 2025, and added NorthWestern as a tenth utility customer with the first planned 10 MHz deployment, so successful license transfers could unlock value over multiple years. [#10-Q-2026-02-11] [#8-K-2026-04-06]
Posture
Defensive
Lead driver
Value
What changed
Value remains the lead driver in the composite, 7D delta 0.0.
What can break
Cash burn and commercialization timing may force more conservative capital allocation despite the large buyback authorization.
Momentum
67
Value
40
Sentiment
3
Setup hits (3d)
0 · Net Neutral
AI TargetsBase $41.00 · Bull $56.00 · Bear $30.00Analysis 2026-04-17; returns require an exact persisted reference.
Data freshness
Prices
Unavailable: Price unavailable
Fundamentals
As of 2026-08-17 • Vendor: Data Vendor v1
Scores
As of 2026-09-11 • Model: HYBRID_IC_RP
AI Memo
As of 2026-04-17 • Model: RankAlpha Sentiment Codex
Investment thesis
As of 2026-09-11

Grade is the composite factor band; factor scores use a 0–100 scale. Confidence describes evidence quality, not a probability of return. Score date: 2026-09-11. Definitions

Supporting evidence
What
Grade F · Defensive
Confidence Medium · Net Neutral
Target $124.50
Why
Momentum67 · Δ7d -13.4
Value40 · Δ7d 0.0
Sentiment3 · Δ7d +2.3
So what
Weak posture (Net Neutral). Prioritize risk control and patience.

Confirming evidence

  • • Value remains the lead driver in the composite, 7D delta 0.0.

Contradictions & invalidation

  • • Cash burn and commercialization timing may force more conservative capital allocation despite the large buyback authorization.
  • • Customer concentration is high and a small number of utility contracts drive most recognized revenue and milestone receipts.
  • • Reported revenue recognition remains modest relative to the asset story, cash declined to $29.5 million by December 31, 2025, and the NorthWestern agreement itself depends on FCC license grants, clearing incumbents, and other conditions extending through 2033, keeping timing risk high.

Catalyst clock

2026-06-24

FY2026 10-K is the next hard read on monetization cadence

Lead driver: Value · See fundamentals
Momentum
67
9% active weight
Current posture
7d trendSoftening
Δ7d
-13.4
Δ21d
-21.5
Value
40
28% active weight
Current posture
7d trendFlat
Δ7d
0.0
Δ21d
+0.5
Sentiment
3
62% active weight
Current posture
7d trendImproving
Δ7d
+2.3
Δ21d
+2.3
Why this grade

Composite grade F. Momentum 66.9 / Value 39.9 / Sentiment 3.3

Scenario snapshot

Scenario probability is memo-authored likelihood, not forecast certainty. Targets belong to the analysis dated 2026-04-17. Scenario method

B+
Bull case
25%
Probability
Target price
$56.00
Analysis reference price unavailable
Analysis 2026-04-17 · RankAlpha Sentiment Codex
Most likely
B
Base case
50%
Probability
Target price
$41.00
Analysis reference price unavailable
Analysis 2026-04-17 · RankAlpha Sentiment Codex
B-
Bear case
25%
Probability
Target price
$30.00
Analysis reference price unavailable
Analysis 2026-04-17 · RankAlpha Sentiment Codex
Fundamentals (TTM)
As of 2026-08-17
Market Cap
$1.8B
Beta
0.85
Shares Out
19.61M
P/E (TTM)
4.4
P/S (TTM)
71.49
P/FCF (TTM) · Derived
164.78
Rev YoY
+38.1%
EPS YoY
-99.1%
Gross Margin
+93.7%
Op Margin
-578.9%
Net Debt
-$100.24M
Current Ratio
4.85
As of 2026-09-11 • Updated nightlySource: Internal modelMethods & Data