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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 +0.2.
What can break
Cash burn and commercialization timing may force more conservative capital allocation despite the large buyback authorization.
Momentum
76
Value
40
Sentiment
1
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 2026-10-27 • Vendor: Data Vendor v1
Scores
As of 2026-10-27 • Model: HYBRID_IC_RP
AI Memo
As of 2026-04-17 • Model: RankAlpha Sentiment Codex
Investment thesis
As of 2026-10-27

Grade is the composite factor band; factor scores use a 0–100 scale. Confidence describes evidence quality, not a probability of return. Score date: 2026-10-27. Definitions

Supporting evidence
What
Grade F · Defensive
Confidence Medium · Net Neutral
Target $124.50
Why
Momentum76 · Δ7d +0.8
Value40 · Δ7d +0.2
Sentiment1 · Δ7d -1.2
So what
Weak posture (Net Neutral). Prioritize risk control and patience.

Confirming evidence

  • • Value remains the lead driver in the composite, 7D delta +0.2.

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
76
8% active weight
Current posture
7d trendImproving
Δ7d
+0.8
Δ21d
+11.4
Value
40
47% active weight
Current posture
7d trendFlat
Δ7d
+0.2
Δ21d
+0.2
Sentiment
1
45% active weight
Current posture
7d trendSoftening
Δ7d
-1.2
Δ21d
+2.5
Why this grade

Composite grade F. Momentum 76.4 / Value 39.9 / Sentiment 1.3

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 2026-10-27
Market Cap
$1.68B
Beta
0.85
Shares Out
19.61M
P/E (TTM)
4.4
P/S (TTM)
71.49
P/FCF (TTM) · Derived
154.08
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 2026-10-27 • Updated nightlySource: Internal modelMethods & Data