Shenandoah Telecommunications (NASDAQ:SHEN) Stock Price Down 3.6% – Should You Sell?

Shenandoah Telecommunications Co (NASDAQ:SHEN) shares fell 3.6% on Wednesday . The stock traded as low as $14.88 and last traded at $14.9760. Approximately 23,442 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 296,565 shares. The stock had previously closed at $15.54.

Analysts Set New Price Targets

Several analysts have issued reports on the company. BWS Financial reaffirmed a “buy” rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a research report on Monday, May 4th. Wall Street Zen cut shares of Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Craig Hallum started coverage on Shenandoah Telecommunications in a research report on Thursday, April 9th. They issued a “buy” rating and a $29.00 price objective for the company. Finally, Weiss Ratings downgraded Shenandoah Telecommunications from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $27.50.

Shenandoah Telecommunications Price Performance

The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.80. The stock’s 50 day moving average price is $15.93 and its two-hundred day moving average price is $13.85. The stock has a market cap of $784.44 million, a price-to-earnings ratio of -17.72 and a beta of 0.66.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its earnings results on Friday, May 1st. The utilities provider reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07). The business had revenue of $92.15 million for the quarter, compared to analyst estimates of $91.34 million. Shenandoah Telecommunications had a negative net margin of 11.35% and a negative return on equity of 4.64%. Equities research analysts forecast that Shenandoah Telecommunications Co will post -1.08 EPS for the current fiscal year.

Institutional Trading of Shenandoah Telecommunications

Hedge funds have recently modified their holdings of the stock. Caitlin John LLC grew its holdings 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 acquiring an additional 3,477 shares during the period. Russell Investments Group Ltd. boosted its position in Shenandoah Telecommunications by 11,367.6% in the 3rd 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 in the last quarter. State of Wyoming purchased a new stake in Shenandoah Telecommunications in the 2nd quarter worth approximately $65,000. iSAM Funds UK Ltd purchased a new stake in Shenandoah Telecommunications in the 3rd quarter worth approximately $67,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Shenandoah Telecommunications by 80.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the utilities provider’s stock worth $68,000 after purchasing an additional 2,228 shares during the period. Hedge funds and other institutional investors own 61.96% of the company’s stock.

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.