Shenandoah Telecommunications (NASDAQ:SHEN) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Shenandoah Telecommunications Co (NASDAQ:SHEN) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.61 and traded as high as $16.53. Shenandoah Telecommunications shares last traded at $16.28, with a volume of 382,242 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SHEN. Wall Street Zen downgraded shares of Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Weiss Ratings downgraded shares of Shenandoah Telecommunications from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. Craig Hallum began coverage on shares of Shenandoah Telecommunications in a research note on Thursday, April 9th. They set a “buy” rating and a $29.00 price objective for the company. Finally, BWS Financial reaffirmed a “buy” rating and set a $26.00 price objective on shares of Shenandoah Telecommunications in a research note on Monday, May 4th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $27.50.

Shenandoah Telecommunications Stock Performance

The stock’s 50-day moving average is $15.89 and its 200-day moving average is $13.69. The stock has a market cap of $892.86 million, a price-to-earnings ratio of -20.17 and a beta of 0.66. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.80.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its earnings results on Friday, May 1st. The utilities provider reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07). The business had revenue of $92.15 million for the quarter, compared to analyst estimates of $91.34 million. Shenandoah Telecommunications had a negative return on equity of 4.64% and a negative net margin of 11.35%. On average, analysts expect that Shenandoah Telecommunications Co will post -1.08 EPS for the current year.

Institutional Trading of Shenandoah Telecommunications

Institutional investors and hedge funds have recently bought and sold shares of the business. Caitlin John LLC increased its position in Shenandoah Telecommunications by 324.0% during the 4th quarter. Caitlin John LLC now owns 4,550 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 3,477 shares in the last quarter. Russell Investments Group Ltd. increased its position 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 purchasing an additional 4,206 shares in the last quarter. State of Wyoming acquired a new stake in Shenandoah Telecommunications during the 2nd quarter worth approximately $65,000. iSAM Funds UK Ltd acquired a new stake in Shenandoah Telecommunications during the 3rd quarter worth approximately $67,000. Finally, Tower Research Capital LLC TRC increased its position in 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 worth $68,000 after purchasing an additional 2,228 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.