Shenandoah Telecommunications (NASDAQ:SHEN) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Shenandoah Telecommunications Co (NASDAQ:SHEN) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.27 and traded as high as $12.96. Shenandoah Telecommunications shares last traded at $12.94, with a volume of 338,365 shares trading hands.

Analyst Ratings Changes

Several analysts recently issued reports on the company. BWS Financial reissued a “buy” rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a report on Friday, October 31st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Shenandoah Telecommunications in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $26.00.

Shenandoah Telecommunications Stock Performance

The company has a market cap of $710.41 million, a P/E ratio of -20.54 and a beta of 0.84. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average price of $11.66 and a 200-day moving average price of $12.27.

Institutional Trading of Shenandoah Telecommunications

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. lifted its stake in shares of Shenandoah Telecommunications by 11,367.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,243 shares of the utilities provider’s stock worth $57,000 after acquiring an additional 4,206 shares during the period. State of Wyoming bought a new stake in Shenandoah Telecommunications during the second quarter worth approximately $65,000. iSAM Funds UK Ltd acquired a new stake in Shenandoah Telecommunications in the third quarter worth approximately $67,000. Tower Research Capital LLC TRC lifted its position in Shenandoah Telecommunications by 80.6% in the second quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the utilities provider’s stock worth $68,000 after purchasing an additional 2,228 shares during the period. Finally, Quantbot Technologies LP boosted its stake in Shenandoah Telecommunications by 223.8% during the 3rd quarter. Quantbot Technologies LP now owns 5,501 shares of the utilities provider’s stock valued at $74,000 after purchasing an additional 3,802 shares in the last quarter. 61.96% of the stock is currently owned by institutional investors.

About Shenandoah Telecommunications

Shenandoah Telecommunications Company operates as a diversified communications provider offering both wireless and wireline services across rural markets in the Mid-Atlantic region. Headquartered in Edinburg, Virginia, the company designs, builds and maintains network infrastructure to deliver mobile connectivity, high-speed broadband access and related telecommunications solutions to residential, business and wholesale customers.

In its wireless segment, the company owns and operates a portfolio of cellular towers and associated spectrum under a long-term partnership with a national carrier.