Shenandoah Telecommunications (NASDAQ:SHEN) Shares Down 8.2% – Should You Sell?

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SHEN shares. BWS Financial reissued a “buy” rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a report on Monday, March 2nd. Craig Hallum started coverage on Shenandoah Telecommunications in a report on Thursday, April 9th. They set a “buy” rating and a $29.00 target price on the stock. Weiss Ratings reissued 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 investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.50.

Shenandoah Telecommunications Trading Up 3.6%

The business has a 50-day moving average price of $15.00 and a two-hundred day moving average price of $12.85. The stock has a market capitalization of $900.87 million, a P/E ratio of -23.96 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.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings data on Friday, May 1st. The utilities provider reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.07). Shenandoah Telecommunications had a negative return on equity of 4.01% and a negative net margin of 10.04%. On average, analysts expect that Shenandoah Telecommunications Co will post -0.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Shenandoah Telecommunications

Large investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System acquired a new stake in shares of Shenandoah Telecommunications in the first quarter valued at about $311,000. Invesco Ltd. increased its stake in shares of Shenandoah Telecommunications by 34.0% in the fourth quarter. Invesco Ltd. now owns 607,617 shares of the utilities provider’s stock valued at $7,024,000 after buying an additional 154,115 shares during the period. 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 valued at $53,000 after buying an additional 3,477 shares during the period. Empowered Funds LLC increased its stake in shares of Shenandoah Telecommunications by 10.8% in the fourth quarter. Empowered Funds LLC now owns 228,132 shares of the utilities provider’s stock valued at $2,637,000 after buying an additional 22,242 shares during the period. Finally, Millennium Management LLC grew its stake in Shenandoah Telecommunications by 1,116.6% during the fourth 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. 61.96% of the stock is currently owned by 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.