Shenandoah Telecommunications (NASDAQ:SHEN) Share Price Passes Above 200-Day Moving Average – What’s Next?

Shenandoah Telecommunications Co (NASDAQ:SHEN) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $13.15 and traded as high as $13.39. Shenandoah Telecommunications shares last traded at $13.29, with a volume of 157,947 shares changing hands.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Shenandoah Telecommunications from a “hold” rating to a “strong sell” rating in a research report on Sunday, August 10th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $26.00.

Shenandoah Telecommunications Stock Performance

The firm has a market capitalization of $729.05 million, a price-to-earnings ratio of -23.73 and a beta of 0.87. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average price of $13.52 and a 200 day moving average price of $13.15.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings data on Thursday, July 31st. The utilities provider reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. The business had revenue of $88.57 million during the quarter, compared to the consensus estimate of $89.94 million. Shenandoah Telecommunications had a negative return on equity of 3.78% and a negative net margin of 8.90%. Shenandoah Telecommunications has set its FY 2025 guidance at EPS. On average, analysts forecast that Shenandoah Telecommunications Co will post -0.49 EPS for the current year.

Insider Buying and Selling

In other Shenandoah Telecommunications news, major shareholder Ecp Fiber Holdings Gp, Llc bought 13,541 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The stock was purchased at an average price of $13.29 per share, for a total transaction of $179,959.89. Following the completion of the purchase, the insider directly owned 3,455,302 shares in the company, valued at $45,920,963.58. This trade represents a 0.39% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher E. French bought 16,800 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were acquired at an average price of $11.83 per share, with a total value of $198,744.00. Following the purchase, the chief executive officer owned 410,517 shares of the company’s stock, valued at $4,856,416.11. The trade was a 4.27% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 653,196 shares of company stock worth $9,094,126 over the last 90 days. 4.51% of the stock is owned by insiders.

Institutional Investors Weigh In On Shenandoah Telecommunications

Institutional investors have recently added to or reduced their stakes in the business. Ancora Advisors LLC purchased a new stake in Shenandoah Telecommunications during the first quarter worth approximately $50,000. State of Wyoming acquired a new position in Shenandoah Telecommunications during the second quarter worth approximately $65,000. Tower Research Capital LLC TRC increased its position in Shenandoah Telecommunications by 80.6% during the second quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the utilities provider’s stock worth $68,000 after buying an additional 2,228 shares during the period. Raymond James Financial Inc. acquired a new position in Shenandoah Telecommunications during the second quarter worth approximately $76,000. Finally, Acadian Asset Management LLC acquired a new position in Shenandoah Telecommunications during the first quarter worth approximately $76,000. Hedge funds and other institutional investors own 61.96% of the company’s stock.

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.