Shenandoah Telecommunications (NASDAQ:SHEN) Stock Crosses Above 200 Day Moving Average – Here’s Why

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 $12.46 and traded as high as $15.16. Shenandoah Telecommunications shares last traded at $14.69, with a volume of 256,394 shares traded.

Wall Street Analyst Weigh In

SHEN has been the topic of a number of recent analyst reports. BWS Financial restated a “buy” rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a research report on Monday, March 2nd. Wall Street Zen raised shares of Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Shenandoah Telecommunications in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $26.00.

Shenandoah Telecommunications Price Performance

The stock has a fifty day moving average of $13.23 and a 200-day moving average of $12.50. The firm has a market capitalization of $822.86 million, a P/E ratio of -21.88 and a beta of 0.79. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.71.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings data on Thursday, February 26th. The utilities provider reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.10. The firm had revenue of $91.59 million for the quarter, compared to analyst estimates of $90.03 million. Shenandoah Telecommunications had a negative net margin of 10.04% and a negative return on equity of 4.01%. Equities analysts predict that Shenandoah Telecommunications Co will post -0.49 EPS for the current fiscal year.

Institutional Trading of Shenandoah Telecommunications

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. lifted its holdings in Shenandoah Telecommunications by 11,367.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,243 shares of the utilities provider’s stock worth $57,000 after buying an additional 4,206 shares in the last quarter. Caitlin John LLC increased its stake in shares of Shenandoah Telecommunications by 324.0% in the 4th 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 period. State of Wyoming acquired a new stake in shares of Shenandoah Telecommunications in the 2nd quarter valued at $65,000. Tower Research Capital LLC TRC raised its position in shares of Shenandoah Telecommunications by 80.6% during the second quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the utilities provider’s stock worth $68,000 after acquiring an additional 2,228 shares during the last quarter. Finally, iSAM Funds UK Ltd bought a new stake in shares of Shenandoah Telecommunications during the third quarter worth $67,000. Institutional investors and hedge funds own 61.96% of the company’s stock.

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.