Shenandoah Telecommunications (NASDAQ:SHEN) Trading Up 6.5%

Shenandoah Telecommunications (NASDAQ:SHEN)’s stock price was up 6.5% on Tuesday . The company traded as high as $15.17 and last traded at $15.08. Approximately 83,500 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 152,060 shares. The stock had previously closed at $14.16.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reaffirmed a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a research report on Monday.

Shenandoah Telecommunications Stock Up 5.2 %

The company has a debt-to-equity ratio of 0.33, a current ratio of 4.68 and a quick ratio of 1.79. The firm’s 50-day moving average is $16.23 and its 200 day moving average is $19.65. The stock has a market cap of $751.71 million, a price-to-earnings ratio of 3.48 and a beta of 0.61.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings results on Wednesday, February 21st. The utilities provider reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.06. Shenandoah Telecommunications had a net margin of 77.44% and a return on equity of 0.27%. The firm had revenue of $72.51 million during the quarter, compared to analyst estimates of $71.85 million. During the same quarter in the prior year, the business posted ($0.04) earnings per share. Sell-side analysts anticipate that Shenandoah Telecommunications will post -0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shenandoah Telecommunications

Several institutional investors have recently bought and sold shares of the business. Swiss National Bank grew its stake in Shenandoah Telecommunications by 1.0% during the third quarter. Swiss National Bank now owns 104,872 shares of the utilities provider’s stock worth $2,161,000 after buying an additional 1,000 shares during the period. GAMMA Investing LLC grew its stake in Shenandoah Telecommunications by 90.8% during the first quarter. GAMMA Investing LLC now owns 2,484 shares of the utilities provider’s stock worth $43,000 after buying an additional 1,182 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Shenandoah Telecommunications by 5.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,869 shares of the utilities provider’s stock worth $473,000 after buying an additional 1,219 shares during the period. PAX Financial Group LLC grew its stake in Shenandoah Telecommunications by 4.0% during the third quarter. PAX Financial Group LLC now owns 34,815 shares of the utilities provider’s stock worth $718,000 after buying an additional 1,333 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Shenandoah Telecommunications by 17.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,045 shares of the utilities provider’s stock worth $228,000 after buying an additional 1,674 shares during the period. 61.96% of the stock is currently owned by hedge funds and other institutional investors.

About Shenandoah Telecommunications

Shenandoah Telecommunications Company, together with its subsidiaries, provides a range of broadband communication services and cell tower colocation space in the Mid-Atlantic portion of the United States. It operates in two segments, Broadband and Tower. The company Broadband segment offers broadband, video, and voice services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky through hybrid fiber coaxial cable under the Shentel brand; and fiber optic services under the Glo Fiber brand name.