Shenandoah Telecommunications (NASDAQ:SHEN) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?

Shenandoah Telecommunications Co (NASDAQ:SHEN)’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 trading hands.

Wall Street Analysts Forecast Growth

SHEN has been the subject of a number of research reports. Wall Street Zen raised Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. BWS Financial reissued a “buy” rating and issued a $26.00 price objective 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 report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Shenandoah Telecommunications currently has an average rating of “Hold” and an average price target 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 firm has a market cap of $815.68 million, a price-to-earnings ratio of -21.69 and a beta of 0.79. The company has a fifty day moving average price of $12.76 and a 200-day moving average price of $12.41.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its earnings results on Thursday, February 26th. The utilities provider reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.10. The firm had revenue of $91.59 million for the quarter, compared to analyst estimates of $90.03 million. Shenandoah Telecommunications had a negative return on equity of 4.01% and a negative net margin of 10.04%. As a group, 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 modified their holdings of the business. Millennium Management LLC raised its holdings in Shenandoah Telecommunications by 1,116.6% in the 4th quarter. Millennium Management LLC now owns 1,087,246 shares of the utilities provider’s stock worth $12,569,000 after purchasing an additional 997,882 shares during the period. Cooper Investors PTY Ltd. acquired a new position in Shenandoah Telecommunications during the third quarter worth $7,050,000. ECP ControlCo LLC raised its position in Shenandoah Telecommunications by 10.7% during the second quarter. ECP ControlCo LLC now owns 2,714,371 shares of the utilities provider’s stock worth $37,078,000 after acquiring an additional 261,987 shares during the period. American Century Companies Inc. lifted its holdings in Shenandoah Telecommunications by 51.3% during the second quarter. American Century Companies Inc. now owns 739,551 shares of the utilities provider’s stock valued at $10,102,000 after purchasing an additional 250,901 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Shenandoah Telecommunications by 103.7% in the second quarter. Invesco Ltd. now owns 447,553 shares of the utilities provider’s stock valued at $6,114,000 after purchasing an additional 227,789 shares during the period. 61.96% of the stock is currently owned by institutional investors and hedge funds.

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.