Shenandoah Telecommunications (NASDAQ:SHEN) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened
by Michael Walen · The Markets DailyShenandoah Telecommunications Co (NASDAQ:SHEN – Get Free Report)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $12.41 and traded as high as $14.93. Shenandoah Telecommunications shares last traded at $14.75, with a volume of 182,326 shares traded.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on SHEN. BWS Financial reiterated a “buy” rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a report on Monday, March 2nd. Wall Street Zen upgraded Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Shenandoah Telecommunications in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $26.00.
View Our Latest Research Report on SHEN
Shenandoah Telecommunications Price Performance
The firm has a market capitalization of $804.62 million, a price-to-earnings ratio of -21.40 and a beta of 0.79. The stock’s fifty day moving average price is $12.89 and its two-hundred day moving average price is $12.43. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.71.
Shenandoah Telecommunications (NASDAQ:SHEN – Get Free Report) last posted its earnings results on Thursday, February 26th. The utilities provider reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.10. Shenandoah Telecommunications had a negative return on equity of 4.01% and a negative net margin of 10.04%.The firm had revenue of $91.59 million for the quarter, compared to analyst estimates of $90.03 million. Equities research analysts expect that Shenandoah Telecommunications Co will post -0.49 EPS for the current year.
Institutional Investors Weigh In On Shenandoah Telecommunications
Institutional investors have recently added to or reduced their stakes in the business. Baird Financial Group Inc. purchased a new position in Shenandoah Telecommunications in the first quarter valued at approximately $158,000. Royal Bank of Canada lifted its position in shares of Shenandoah Telecommunications by 11.8% during the 1st quarter. Royal Bank of Canada now owns 37,008 shares of the utilities provider’s stock worth $465,000 after buying an additional 3,904 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Shenandoah Telecommunications by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,964 shares of the utilities provider’s stock valued at $364,000 after buying an additional 1,248 shares in the last quarter. Millennium Management LLC grew its position in shares of Shenandoah Telecommunications by 48.3% in the 1st quarter. Millennium Management LLC now owns 448,976 shares of the utilities provider’s stock valued at $5,644,000 after buying an additional 146,221 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Shenandoah Telecommunications by 27.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 532,984 shares of the utilities provider’s stock valued at $6,700,000 after buying an additional 116,040 shares during the last quarter. Hedge funds and other institutional investors own 61.96% of the company’s stock.
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.