Shenandoah Telecommunications (NASDAQ:SHEN) Trading Down 3.6% – Time to Sell?

Shares of Shenandoah Telecommunications Co (NASDAQ:SHEN) fell 3.6% during trading on Wednesday . The company traded as low as $14.88 and last traded at $14.9760. 23,442 shares were traded during mid-day trading, a decline of 92% from the average session volume of 296,565 shares. The stock had previously closed at $15.54.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SHEN. BWS Financial reiterated a “buy” rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a research note on Monday, May 4th. Craig Hallum began coverage on shares of Shenandoah Telecommunications in a research note on Thursday, April 9th. They issued a “buy” rating and a $29.00 price target for the company. Wall Street Zen lowered shares of Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings lowered shares of Shenandoah Telecommunications from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $27.50.

Shenandoah Telecommunications Trading Down 4.6%

The firm has a market capitalization of $819.84 million, a PE ratio of -18.52 and a beta of 0.66. 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 stock’s fifty day simple moving average is $15.94 and its 200 day simple moving average is $13.80.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its earnings results on Friday, May 1st. The utilities provider reported ($0.31) EPS 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 business had revenue of $92.15 million for the quarter, compared to analysts’ expectations of $91.34 million. On average, sell-side analysts predict that Shenandoah Telecommunications Co will post -1.08 earnings per share for the current year.

Institutional Trading of Shenandoah Telecommunications

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caitlin John LLC increased its holdings in Shenandoah Telecommunications by 324.0% during the fourth quarter. Caitlin John LLC now owns 4,550 shares of the utilities provider’s stock valued at $53,000 after buying an additional 3,477 shares during the last quarter. Russell Investments Group Ltd. boosted its position 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 period. State of Wyoming bought a new position in shares of Shenandoah Telecommunications in the second quarter worth approximately $65,000. iSAM Funds UK Ltd bought a new position in shares of Shenandoah Telecommunications in the third quarter worth approximately $67,000. Finally, Tower Research Capital LLC TRC boosted its position 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 period. 61.96% of the stock is owned by hedge funds and other 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.