Shenandoah Telecommunications (NASDAQ:SHEN) Trading Down 8.2% – Here’s What Happened

Shares of Shenandoah Telecommunications Co (NASDAQ:SHEN) traded down 8.2% on Wednesday . The company traded as low as $15.14 and last traded at $15.1250. 246,776 shares changed hands during trading, a decline of 13% from the average session volume of 282,119 shares. The stock had previously closed at $16.47.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SHEN shares. Craig Hallum assumed coverage on Shenandoah Telecommunications in a research note on Thursday, April 9th. They issued a “buy” rating and a $29.00 price objective on the stock. BWS Financial reissued a “buy” rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a research note on Monday, March 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Shenandoah Telecommunications in a report on Thursday, January 22nd. Finally, Wall Street Zen raised Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $27.50.

Shenandoah Telecommunications Stock Performance

The business has a fifty day moving average of $14.92 and a 200-day moving average of $12.82. 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 $834.48 million, a PE ratio of -22.19 and a beta of 0.67.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings results on Thursday, February 26th. The utilities provider reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.10. The firm had revenue of $91.59 million for the quarter, compared to analysts’ expectations of $90.03 million. Shenandoah Telecommunications had a negative return on equity of 4.01% and a negative net margin of 10.04%. Equities research analysts anticipate that Shenandoah Telecommunications Co will post -0.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shenandoah Telecommunications

A number of hedge funds have recently added to or reduced their stakes in the stock. Caitlin John LLC increased its stake in shares of 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 in the last quarter. Russell Investments Group Ltd. grew its position in shares of 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 valued at $57,000 after purchasing an additional 4,206 shares in the last quarter. State of Wyoming bought a new position in Shenandoah Telecommunications during the second quarter valued at approximately $65,000. iSAM Funds UK Ltd bought a new position in Shenandoah Telecommunications during the third quarter valued at approximately $67,000. Finally, Tower Research Capital LLC TRC boosted 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 valued at $68,000 after buying an additional 2,228 shares during the last quarter. 61.96% of the stock is currently owned by hedge funds and other institutional investors.

Shenandoah Telecommunications Company Profile

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.