Shenandoah Telecommunications (NASDAQ:SHEN) Trading Down 5.3% – What’s Next?

Shares of Shenandoah Telecommunications Co (NASDAQ:SHEN) fell 5.3% during mid-day trading on Friday . The stock traded as low as $11.63 and last traded at $11.6190. 168,798 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 327,758 shares. The stock had previously closed at $12.27.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SHEN shares. 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. Craig Hallum initiated coverage on shares of Shenandoah Telecommunications in a research report on Thursday, April 9th. They set a “buy” rating and a $29.00 price target for the company. BWS Financial reiterated a “buy” rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a research note on Monday, May 4th. Finally, Wall Street Zen downgraded shares of Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Two equities 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 a consensus rating of “Hold” and an average target price of $27.50.

Shenandoah Telecommunications Stock Performance

The company has a market capitalization of $629.54 million, a P/E ratio of -14.22 and a beta of 0.67. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.12 and a current ratio of 1.12. The business’s fifty day simple moving average is $14.94 and its 200-day simple moving average is $14.16.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings data on Friday, May 1st. The utilities provider reported ($0.31) EPS for the quarter, missing the consensus estimate 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 company had revenue of $92.15 million for the quarter, compared to the consensus estimate of $91.34 million. As a group, equities analysts anticipate that Shenandoah Telecommunications Co will post -1.08 earnings per share for the current fiscal year.

Institutional Trading of Shenandoah Telecommunications

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

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.