Shenandoah Telecommunications (NASDAQ:SHEN) Sees Strong Trading Volume – Time to Buy?

Shenandoah Telecommunications Co (NASDAQ:SHEN) shares saw unusually-strong trading volume on Friday . Approximately 202,526 shares changed hands during trading, a decline of 29% from the previous session’s volume of 287,141 shares.The stock last traded at $14.2460 and had previously closed at $15.73.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SHEN shares. BWS Financial reissued a “buy” rating and set a $26.00 price objective on shares of Shenandoah Telecommunications in a research report on Monday, March 2nd. Craig Hallum started coverage on Shenandoah Telecommunications in a research report on Thursday, April 9th. They set a “buy” rating and a $29.00 price objective for the company. Weiss Ratings reissued a “sell (d)” rating on shares of Shenandoah Telecommunications in a research report on Thursday, January 22nd. Finally, Wall Street Zen raised Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Shenandoah Telecommunications has a consensus rating of “Hold” and an average target price of $27.50.

Shenandoah Telecommunications Stock Up 2.9%

The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.71. The firm has a market cap of $895.01 million, a price-to-earnings ratio of -23.79 and a beta of 0.67. The firm has a 50-day moving average of $15.00 and a two-hundred day moving average of $12.85.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings data on Friday, May 1st. The utilities provider reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.07). Shenandoah Telecommunications had a negative return on equity of 4.01% and a negative net margin of 10.04%. As a group, sell-side analysts predict that Shenandoah Telecommunications Co will post -0.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shenandoah Telecommunications

Several large investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System acquired a new position in Shenandoah Telecommunications in the 1st quarter valued at approximately $311,000. Invesco Ltd. raised its holdings in Shenandoah Telecommunications by 34.0% in the 4th quarter. Invesco Ltd. now owns 607,617 shares of the utilities provider’s stock valued at $7,024,000 after acquiring an additional 154,115 shares in the last quarter. Caitlin John LLC raised its holdings in 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 acquiring an additional 3,477 shares in the last quarter. Empowered Funds LLC raised its holdings in Shenandoah Telecommunications by 10.8% in the 4th quarter. Empowered Funds LLC now owns 228,132 shares of the utilities provider’s stock valued at $2,637,000 after acquiring an additional 22,242 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Shenandoah Telecommunications by 1,116.6% in the 4th quarter. Millennium Management LLC now owns 1,087,246 shares of the utilities provider’s stock valued at $12,569,000 after acquiring an additional 997,882 shares in the last quarter. 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.