Shenandoah Telecommunications (NASDAQ:SHEN) Shares Down 3.9% – Here’s What Happened

Shenandoah Telecommunications (NASDAQ:SHEN)’s stock price fell 3.9% during mid-day trading on Wednesday . The company traded as low as $11.46 and last traded at $11.47. 23,779 shares were traded during mid-day trading, a decline of 86% from the average session volume of 172,653 shares. The stock had previously closed at $11.93.

Wall Street Analysts Forecast Growth

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

Shenandoah Telecommunications Price Performance

The firm’s 50 day moving average price is $12.77 and its two-hundred day moving average price is $14.58. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market cap of $628.99 million, a PE ratio of 2.96 and a beta of 0.63.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings data on Thursday, November 7th. The utilities provider reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). The business had revenue of $87.60 million during the quarter, compared to analysts’ expectations of $88.80 million. Shenandoah Telecommunications had a net margin of 62.67% and a negative return on equity of 1.45%. During the same quarter in the prior year, the firm posted $0.03 earnings per share. On average, research analysts expect that Shenandoah Telecommunications will post -0.41 earnings per share for the current year.

Institutional Trading of Shenandoah Telecommunications

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc grew its holdings in Shenandoah Telecommunications by 10,890.9% during the 4th quarter. Versant Capital Management Inc now owns 2,418 shares of the utilities provider’s stock valued at $30,000 after buying an additional 2,396 shares in the last quarter. nVerses Capital LLC purchased a new position in Shenandoah Telecommunications during the third quarter valued at approximately $37,000. Quantbot Technologies LP increased its holdings in Shenandoah Telecommunications by 570.2% during the 3rd quarter. Quantbot Technologies LP now owns 7,339 shares of the utilities provider’s stock worth $104,000 after acquiring an additional 6,244 shares during the period. Quest Partners LLC increased its holdings in Shenandoah Telecommunications by 741.0% during the 3rd quarter. Quest Partners LLC now owns 7,636 shares of the utilities provider’s stock worth $108,000 after acquiring an additional 6,728 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Shenandoah Telecommunications by 135.2% in the 4th quarter. GAMMA Investing LLC now owns 8,722 shares of the utilities provider’s stock worth $110,000 after purchasing an additional 5,013 shares in the last quarter. 61.96% of the stock is currently owned by institutional investors.

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.