Shenandoah Telecommunications (NASDAQ:SHEN) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Shenandoah Telecommunications Co (NASDAQ:SHEN) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $12.30 and traded as high as $14.42. Shenandoah Telecommunications shares last traded at $13.96, with a volume of 175,570 shares.

Analyst Ratings Changes

Several equities analysts have weighed in on SHEN shares. BWS Financial reiterated a “buy” rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a report on Thursday, May 1st. Wall Street Zen upgraded shares of Shenandoah Telecommunications to a “sell” rating in a research report on Thursday, May 8th.

Shenandoah Telecommunications Trading Down 2.1%

The firm has a market cap of $765.85 million, a price-to-earnings ratio of -22.88 and a beta of 0.87. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.20 and a quick ratio of 1.20. The company’s 50 day simple moving average is $12.62 and its 200 day simple moving average is $12.30.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings results on Wednesday, April 30th. The utilities provider reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.05). Shenandoah Telecommunications had a negative return on equity of 3.18% and a negative net margin of 10.07%. The business had revenue of $87.90 million for the quarter, compared to analysts’ expectations of $89.31 million. During the same period last year, the firm earned ($0.07) earnings per share. As a group, research analysts expect that Shenandoah Telecommunications Co will post -0.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Ecp Controlco, Llc purchased 36,238 shares of the company’s stock in a transaction on Monday, June 2nd. The stock was bought at an average price of $12.58 per share, with a total value of $455,874.04. Following the completion of the transaction, the insider now owns 2,599,274 shares of the company’s stock, valued at approximately $32,698,866.92. This represents a 1.41% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ecp Fiber Holdings Gp, Llc acquired 6,000 shares of the business’s stock in a transaction dated Friday, June 13th. The stock was purchased at an average cost of $13.73 per share, with a total value of $82,380.00. Following the transaction, the insider now owns 2,714,371 shares of the company’s stock, valued at approximately $37,268,313.83. The trade was a 0.22% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 244,137 shares of company stock valued at $3,104,959 over the last quarter. Company insiders own 4.51% of the company’s stock.

Institutional Trading of Shenandoah Telecommunications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SHEN. GAMMA Investing LLC raised its holdings in Shenandoah Telecommunications by 2,104.3% in the first quarter. GAMMA Investing LLC now owns 192,258 shares of the utilities provider’s stock valued at $2,417,000 after buying an additional 183,536 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Shenandoah Telecommunications by 456.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,304 shares of the utilities provider’s stock worth $53,000 after buying an additional 3,531 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Shenandoah Telecommunications by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,716 shares of the utilities provider’s stock worth $349,000 after acquiring an additional 1,061 shares in the last quarter. Barclays PLC raised its stake in shares of Shenandoah Telecommunications by 6.6% in the 4th quarter. Barclays PLC now owns 85,404 shares of the utilities provider’s stock valued at $1,078,000 after purchasing an additional 5,253 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Shenandoah Telecommunications during the fourth quarter worth about $260,000. Hedge funds and other institutional investors own 61.96% of the company’s stock.

Shenandoah Telecommunications Company Profile

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.