Shenandoah Telecommunications (NASDAQ:SHEN) Stock Price Down 9.2% – Time to Sell?

Shenandoah Telecommunications Co (NASDAQ:SHEN) shares were down 9.2% during mid-day trading on Thursday . The company traded as low as $11.67 and last traded at $11.5350. Approximately 225,776 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 342,688 shares. The stock had previously closed at $12.71.

Analyst Upgrades and Downgrades

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

Shenandoah Telecommunications Stock Up 1.4%

The firm has a market cap of $663.31 million, a price-to-earnings ratio of -15.37 and a beta of 0.67. The company has a current ratio of 0.85, a quick ratio of 1.12 and a debt-to-equity ratio of 0.83. The firm has a 50 day moving average price of $14.08 and a 200-day moving average price of $14.17.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings data on Wednesday, July 29th. The utilities provider reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.11. The business had revenue of $93.46 million for the quarter, compared to analyst estimates of $92.83 million. Shenandoah Telecommunications had a negative net margin of 10.83% and a negative return on equity of 4.54%. On average, equities analysts forecast that Shenandoah Telecommunications Co will post -1.08 EPS for the current year.

Institutional Trading of Shenandoah Telecommunications

Several large investors have recently modified their holdings of SHEN. ECP ControlCo LLC raised its position in shares of Shenandoah Telecommunications by 2.4% during the 4th quarter. ECP ControlCo LLC now owns 3,457,105 shares of the utilities provider’s stock worth $39,964,000 after purchasing an additional 79,872 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Shenandoah Telecommunications by 1.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,639,113 shares of the utilities provider’s stock valued at $35,416,000 after buying an additional 39,653 shares during the last quarter. State Street Corp grew its holdings in Shenandoah Telecommunications by 1.7% during the 4th quarter. State Street Corp now owns 1,927,155 shares of the utilities provider’s stock valued at $22,278,000 after buying an additional 31,375 shares during the last quarter. Millennium Management LLC increased its position in Shenandoah Telecommunications by 1,116.6% during the fourth quarter. Millennium Management LLC now owns 1,087,246 shares of the utilities provider’s stock worth $12,569,000 after buying an additional 997,882 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Shenandoah Telecommunications by 8.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 796,076 shares of the utilities provider’s stock worth $9,203,000 after buying an additional 59,443 shares in the last quarter. 61.96% of the stock is currently owned by institutional investors and hedge funds.

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.