Shenandoah Telecommunications (NASDAQ:SHEN) Share Price Passes Above 200-Day Moving Average – Should You Sell?

Shenandoah Telecommunications Co (NASDAQ:SHEN) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.37 and traded as high as $16.35. Shenandoah Telecommunications shares last traded at $16.19, with a volume of 291,349 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. BWS Financial restated a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a report on Monday, May 4th. Weiss Ratings cut Shenandoah Telecommunications from a “sell (d+)” rating to a “sell (d-)” rating in a report on Monday, May 4th. Wall Street Zen cut Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Finally, Craig Hallum assumed coverage on Shenandoah Telecommunications in a report on Thursday, April 9th. They set a “buy” rating and a $29.00 price target for the company. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $27.50.

Shenandoah Telecommunications Price Performance

The firm has a market capitalization of $895.63 million, a P/E ratio of -20.24 and a beta of 0.66. The firm has a 50 day moving average price of $15.68 and a 200-day moving average price of $13.37. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.80.

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

Institutional Investors Weigh In On Shenandoah Telecommunications

A number of institutional investors and hedge funds have recently modified their holdings of SHEN. Millennium Management LLC lifted its stake in shares of Shenandoah Telecommunications by 1,116.6% during the 4th quarter. Millennium Management LLC now owns 1,087,246 shares of the utilities provider’s stock worth $12,569,000 after acquiring an additional 997,882 shares during the last quarter. Cooper Investors PTY Ltd. lifted its stake in shares of Shenandoah Telecommunications by 81.0% during the 4th quarter. Cooper Investors PTY Ltd. now owns 950,951 shares of the utilities provider’s stock worth $10,993,000 after acquiring an additional 425,582 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Shenandoah Telecommunications by 103.7% during the 2nd quarter. Invesco Ltd. now owns 447,553 shares of the utilities provider’s stock worth $6,114,000 after acquiring an additional 227,789 shares during the last quarter. Bridgeway Capital Management LLC lifted its stake in shares of Shenandoah Telecommunications by 187.2% during the 3rd quarter. Bridgeway Capital Management LLC now owns 330,890 shares of the utilities provider’s stock worth $4,441,000 after acquiring an additional 215,668 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Shenandoah Telecommunications by 27.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 532,984 shares of the utilities provider’s stock worth $6,700,000 after acquiring an additional 116,040 shares during the last quarter. 61.96% of the stock is 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.