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

Shenandoah Telecommunications Co (NASDAQ:SHEN)’s share price 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.

Analysts Set New Price Targets

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

Shenandoah Telecommunications Stock Performance

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 firm has a 50-day moving average of $15.85 and a two-hundred day moving average of $13.61. 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 released its quarterly earnings data on Friday, May 1st. The utilities provider reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07). Shenandoah Telecommunications had a negative net margin of 11.35% and a negative return on equity of 4.64%. The firm had revenue of $92.15 million during the quarter, compared to analysts’ expectations of $91.34 million. Research analysts anticipate that Shenandoah Telecommunications Co will post -1.08 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC increased its holdings in Shenandoah Telecommunications by 1.4% in the fourth quarter. Jane Street Group LLC now owns 70,738 shares of the utilities provider’s stock valued at $818,000 after buying an additional 948 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Shenandoah Telecommunications by 5.5% in the second quarter. The Manufacturers Life Insurance Company now owns 18,768 shares of the utilities provider’s stock valued at $256,000 after buying an additional 986 shares in the last quarter. Gabelli Funds LLC increased its position in shares of Shenandoah Telecommunications by 0.5% in the first quarter. Gabelli Funds LLC now owns 199,530 shares of the utilities provider’s stock valued at $3,077,000 after buying an additional 1,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Shenandoah Telecommunications by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,964 shares of the utilities provider’s stock valued at $364,000 after buying an additional 1,248 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Shenandoah Telecommunications by 13.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,688 shares of the utilities provider’s stock valued at $147,000 after buying an additional 1,511 shares in the last quarter. Hedge funds and other institutional investors own 61.96% of the company’s stock.

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.