Shenandoah Telecommunications (NASDAQ:SHEN) Shares Pass Above 200-Day Moving Average – Should You Sell?

Shenandoah Telecommunications Co (NASDAQ:SHEN) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $13.95 and traded as high as $14.68. Shenandoah Telecommunications shares last traded at $14.62, with a volume of 429,719 shares traded.

Analyst Ratings Changes

SHEN has been the topic of a number of recent research reports. Wall Street Zen downgraded Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Weiss Ratings lowered shares of Shenandoah Telecommunications from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. BWS Financial restated a “buy” rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a report on Monday, May 4th. Finally, Craig Hallum initiated coverage on shares of Shenandoah Telecommunications in a report on Thursday, April 9th. They issued a “buy” rating and a $29.00 price target on the stock. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $27.50.

Shenandoah Telecommunications Trading Up 2.8%

The stock has a market cap of $854.69 million, a PE ratio of -19.31 and a beta of 0.66. The company’s fifty day moving average is $15.86 and its 200-day moving average is $13.98. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.12 and a quick ratio of 1.12.

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). The company had revenue of $92.15 million for the quarter, compared to analysts’ expectations 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 predict that Shenandoah Telecommunications Co will post -1.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shenandoah Telecommunications

Hedge funds have recently bought and sold shares of the stock. Millennium Management LLC increased its holdings 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 valued at $12,569,000 after purchasing an additional 997,882 shares in the last quarter. Cooper Investors PTY Ltd. grew its position in Shenandoah Telecommunications by 81.0% during the fourth quarter. Cooper Investors PTY Ltd. now owns 950,951 shares of the utilities provider’s stock valued at $10,993,000 after buying an additional 425,582 shares during the period. Invesco Ltd. increased its holdings in Shenandoah Telecommunications by 103.7% in the second quarter. Invesco Ltd. now owns 447,553 shares of the utilities provider’s stock valued at $6,114,000 after buying an additional 227,789 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings in Shenandoah Telecommunications by 187.2% in the third quarter. Bridgeway Capital Management LLC now owns 330,890 shares of the utilities provider’s stock valued at $4,441,000 after buying an additional 215,668 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Shenandoah Telecommunications by 27.8% in the first 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 period. 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.