Shenandoah Telecommunications (NASDAQ:SHEN) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shenandoah Telecommunications Co (NASDAQ:SHEN)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.27 and traded as high as $12.96. Shenandoah Telecommunications shares last traded at $12.94, with a volume of 338,365 shares changing hands.

Analyst Upgrades and Downgrades

SHEN has been the topic of a number of recent analyst reports. BWS Financial reissued a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a report on Friday, October 31st. Weiss Ratings reissued a “sell (d)” rating on shares of Shenandoah Telecommunications in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $26.00.

Shenandoah Telecommunications Stock Up 1.3%

The firm has a market cap of $710.41 million, a price-to-earnings ratio of -20.54 and a beta of 0.84. The business has a fifty day simple moving average of $11.66 and a 200 day simple moving average of $12.25. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.50 and a quick ratio of 0.50.

Institutional Investors Weigh In On Shenandoah Telecommunications

Large investors have recently made changes to their positions in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Shenandoah Telecommunications by 7.8% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,831 shares of the utilities provider’s stock worth $162,000 after buying an additional 855 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Shenandoah Telecommunications by 1.4% during the 4th quarter. Jane Street Group LLC now owns 70,738 shares of the utilities provider’s stock worth $818,000 after acquiring an additional 948 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Shenandoah Telecommunications by 5.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,768 shares of the utilities provider’s stock valued at $256,000 after acquiring an additional 986 shares during the last quarter. Intech Investment Management LLC grew its holdings in shares of Shenandoah Telecommunications by 2.1% in the second quarter. Intech Investment Management LLC now owns 50,706 shares of the utilities provider’s stock valued at $693,000 after purchasing an additional 1,045 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Shenandoah Telecommunications by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,964 shares of the utilities provider’s stock worth $364,000 after purchasing an additional 1,248 shares during the last quarter. 61.96% of the stock is currently owned by hedge funds and other 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.