Shenandoah Telecommunications (NASDAQ:SHEN) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Shenandoah Telecommunications Co (NASDAQ:SHEN)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $12.46 and traded as high as $15.16. Shenandoah Telecommunications shares last traded at $14.69, with a volume of 256,394 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SHEN shares. Wall Street Zen raised shares of Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. BWS Financial restated a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a report on Monday, March 2nd. 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $26.00.

Shenandoah Telecommunications Trading Up 0.5%

The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.71. The company has a market cap of $812.36 million, a PE ratio of -21.60 and a beta of 0.79. The stock has a 50 day moving average price of $13.10 and a 200 day moving average price of $12.46.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings data on Thursday, February 26th. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.10. The business had revenue of $91.59 million during the quarter, compared to the consensus estimate of $90.03 million. Shenandoah Telecommunications had a negative return on equity of 4.01% and a negative net margin of 10.04%. Sell-side analysts predict that Shenandoah Telecommunications Co will post -0.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Invesco Ltd. lifted its position in Shenandoah Telecommunications by 34.0% during the 4th quarter. Invesco Ltd. now owns 607,617 shares of the utilities provider’s stock valued at $7,024,000 after acquiring an additional 154,115 shares during the period. Caitlin John LLC grew its holdings in Shenandoah Telecommunications by 324.0% in the fourth 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 during the period. Empowered Funds LLC increased its stake in shares of Shenandoah Telecommunications by 10.8% during the fourth quarter. Empowered Funds LLC now owns 228,132 shares of the utilities provider’s stock valued at $2,637,000 after purchasing an additional 22,242 shares in the last quarter. Millennium Management LLC increased its stake in shares of 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 valued at $12,569,000 after purchasing an additional 997,882 shares in the last quarter. Finally, Bridgeway Capital Management LLC lifted its holdings in shares of Shenandoah Telecommunications by 6.7% during the fourth quarter. Bridgeway Capital Management LLC now owns 353,132 shares of the utilities provider’s stock valued at $4,082,000 after purchasing an additional 22,242 shares during the last quarter. 61.96% of the stock is currently owned by institutional investors.

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.