In a report released today, Mike Crawford from B.Riley FBR maintained a Buy rating on pdvWireless, Inc. (ATEX), with a price target of $59. The company’s shares closed yesterday at $44.25.
Crawford said:
“Buy-rated pdvWireless, now d/b/a Anterix (ATEX, $59 PT) priced an upsized primary follow- on offering of $100M of common stock at $45/share. Closing is expected on 7/19. Also, we expect the company to report its 1Q20 (Jun) results during the week of 8/5, likely on 8/7, though revenue remains de minimis as the company pushes its primary objectives to secure a the FCC to create a private enterprise broadband (PEBB) allocation in the 900 MHz band, where ATEX owns 52% of the entire band nationwide—and then to monetize this asset primarily via envisioned 20-year spectrum lease agreements with investor-owned utilities (IOUs) and other critical infrastructure industries (CII) providers.”
According to TipRanks.com, Crawford is a 4-star analyst with an average return of 7.2% and a 55.8% success rate. Crawford covers the Consumer Goods sector, focusing on stocks such as Finjan Holdings, Kratos Defense, and Ducommun Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for pdvWireless, Inc. with a $69.50 average price target.
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The company has a one-year high of $51.33 and a one-year low of $24.55. Currently, pdvWireless, Inc. has an average volume of 100.3K.
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock.
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pdvWireless, Inc., doing business as Anterix, is a wireless communications company, which engages in the spectrum assets to enable targeted critical infrastructure and enterprise customers to deploy private broadband networks, technologies, and solutions. Its products include teamconnect, pdvconnect, and diga-talk plus application.
