Shenandoah Telecommunications (NASDAQ:SHEN) Share Price Passes Above 200-Day Moving Average – What’s Next?

Shenandoah Telecommunications Co (NASDAQ:SHEN) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.61 and traded as high as $16.53. Shenandoah Telecommunications shares last traded at $16.28, with a volume of 382,242 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Wall Street Zen cut Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Craig Hallum began coverage on shares of Shenandoah Telecommunications in a research report on Thursday, April 9th. They set a “buy” rating and a $29.00 target price for the company. Weiss Ratings cut shares of Shenandoah Telecommunications from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. Finally, BWS Financial reissued a “buy” rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a research report on Monday, May 4th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $27.50.

Shenandoah Telecommunications Stock Performance

The business has a 50 day simple moving average of $15.85 and a 200 day simple moving average of $13.61. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $900.61 million, a PE ratio of -20.35 and a beta of 0.66.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings results on Friday, May 1st. The utilities provider reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07). The company had revenue of $92.15 million during the quarter, compared to analysts’ expectations of $91.34 million. Shenandoah Telecommunications had a negative return on equity of 4.64% and a negative net margin of 11.35%. Equities research analysts predict that Shenandoah Telecommunications Co will post -1.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. raised its stake in shares of Shenandoah Telecommunications by 11,367.6% in the third quarter. Russell Investments Group Ltd. now owns 4,243 shares of the utilities provider’s stock worth $57,000 after purchasing an additional 4,206 shares during the last quarter. Caitlin John LLC raised its stake in shares of Shenandoah Telecommunications by 324.0% in the fourth quarter. Caitlin John LLC now owns 4,550 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 3,477 shares during the last quarter. State of Wyoming purchased a new position in shares of Shenandoah Telecommunications in the second quarter worth about $65,000. Tower Research Capital LLC TRC raised its stake in shares of 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 last quarter. Finally, iSAM Funds UK Ltd purchased a new position in shares of Shenandoah Telecommunications in the third quarter worth about $67,000. 61.96% of the stock is currently owned by hedge funds and other institutional investors.

Shenandoah Telecommunications Company Profile

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.