Shenandoah Telecommunications (NASDAQ:SHEN) Shares Gap Up – What’s Next?

Shenandoah Telecommunications Co (NASDAQ:SHEN)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $14.42, but opened at $15.40. Shenandoah Telecommunications shares last traded at $14.8550, with a volume of 44,226 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SHEN. Weiss Ratings reiterated a “sell (d)” rating on shares of Shenandoah Telecommunications in a research report on Thursday, January 22nd. Wall Street Zen upgraded shares of Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Craig Hallum started coverage on shares of Shenandoah Telecommunications in a report on Thursday. They set a “buy” rating and a $29.00 price objective on the stock. Finally, BWS Financial reissued a “buy” rating and set a $26.00 price objective on shares of Shenandoah Telecommunications in a report on Monday, March 2nd. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $27.50.

Shenandoah Telecommunications Stock Up 3.6%

The company has a market cap of $826.18 million, a P/E ratio of -21.97 and a beta of 0.67. 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’s 50 day moving average price is $13.88 and its 200-day moving average price is $12.56.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings data on Thursday, February 26th. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.10. Shenandoah Telecommunications had a negative net margin of 10.04% and a negative return on equity of 4.01%. The firm had revenue of $91.59 million for the quarter, compared to analysts’ expectations of $90.03 million. As a group, equities research analysts expect that Shenandoah Telecommunications Co will post -0.49 EPS for the current year.

Institutional Investors Weigh In On Shenandoah Telecommunications

Several institutional investors and hedge funds have recently bought and sold shares of SHEN. Caitlin John LLC lifted its position in Shenandoah Telecommunications by 324.0% during 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. Russell Investments Group Ltd. lifted its position in Shenandoah Telecommunications by 11,367.6% during the third quarter. Russell Investments Group Ltd. now owns 4,243 shares of the utilities provider’s stock worth $57,000 after purchasing an additional 4,206 shares during the period. State of Wyoming acquired a new position in Shenandoah Telecommunications during the second quarter worth about $65,000. iSAM Funds UK Ltd acquired a new position in Shenandoah Telecommunications during the third quarter worth about $67,000. Finally, Tower Research Capital LLC TRC raised its stake 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 acquiring an additional 2,228 shares in the last quarter. 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.