Shenandoah Telecommunications (NASDAQ:SHEN) Shares Up 4.9% – What’s Next?

Shenandoah Telecommunications (NASDAQ:SHEN) was up 4.9% during mid-day trading on Monday . The company traded as high as $11.23 and last traded at $11.30. Approximately 107,614 shares changed hands during trading, a decline of 48% from the average daily volume of 206,914 shares. The stock had previously closed at $10.78.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reiterated a “buy” rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a research note on Wednesday, November 13th.

Shenandoah Telecommunications Trading Up 4.4 %

The firm’s 50 day moving average is $11.92 and its 200 day moving average is $13.35. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.82 and a quick ratio of 0.79. The company has a market cap of $614.27 million, a PE ratio of 2.97 and a beta of 0.61.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings results on Thursday, February 20th. The utilities provider reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). Shenandoah Telecommunications had a net margin of 58.03% and a negative return on equity of 2.50%. The firm had revenue of $85.41 million for the quarter, compared to analysts’ expectations of $89.65 million. On average, equities analysts anticipate that Shenandoah Telecommunications will post -0.49 earnings per share for the current year.

Institutional Trading of Shenandoah Telecommunications

Several institutional investors and hedge funds have recently modified their holdings of SHEN. Private Advisor Group LLC bought a new position in shares of Shenandoah Telecommunications in the fourth quarter worth approximately $2,379,000. DAVENPORT & Co LLC increased its holdings in shares of Shenandoah Telecommunications by 16.1% in the 4th quarter. DAVENPORT & Co LLC now owns 1,012,685 shares of the utilities provider’s stock worth $12,770,000 after buying an additional 140,314 shares during the last quarter. Invesco Ltd. raised its position in shares of Shenandoah Telecommunications by 66.7% during the 4th quarter. Invesco Ltd. now owns 239,856 shares of the utilities provider’s stock valued at $3,025,000 after buying an additional 96,006 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Shenandoah Telecommunications during the 4th quarter valued at $1,052,000. Finally, Intech Investment Management LLC bought a new stake in shares of Shenandoah Telecommunications during the 3rd quarter worth $1,113,000. Hedge funds and other institutional investors own 61.96% of the company’s stock.

About Shenandoah Telecommunications

Shenandoah Telecommunications Company, together with its subsidiaries, provides a range of broadband communication services and cell tower colocation space in the Mid-Atlantic portion of the United States. It operates in two segments, Broadband and Tower. The company Broadband segment offers broadband, video, and voice services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky through hybrid fiber coaxial cable under the Shentel brand; and fiber optic services under the Glo Fiber brand name.