Shenandoah Telecommunications (NASDAQ:SHEN) Sets New 12-Month Low – Here’s What Happened

Shenandoah Telecommunications (NASDAQ:SHEN) reached a new 52-week low during trading on Thursday . The company traded as low as $11.18 and last traded at $11.22, with a volume of 243011 shares traded. The stock had previously closed at $11.93.

Analyst Ratings Changes

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

Shenandoah Telecommunications Stock Performance

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 firm has a market capitalization of $612.61 million, a PE ratio of 2.88 and a beta of 0.63. The firm has a fifty day moving average price of $12.80 and a 200 day moving average price of $14.60.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its earnings results on Thursday, November 7th. The utilities provider reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.06). Shenandoah Telecommunications had a negative return on equity of 1.45% and a net margin of 62.67%. The firm had revenue of $87.60 million during the quarter, compared to analyst estimates of $88.80 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. Research analysts anticipate that Shenandoah Telecommunications will post -0.41 earnings per share for the current fiscal year.

Institutional Trading of Shenandoah Telecommunications

Several large investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its position in Shenandoah Telecommunications by 10,890.9% during the fourth 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 during the period. nVerses Capital LLC acquired a new position in shares of Shenandoah Telecommunications in the 3rd quarter valued at about $37,000. Quantbot Technologies LP lifted its position in shares of Shenandoah Telecommunications by 570.2% in the third quarter. Quantbot Technologies LP now owns 7,339 shares of the utilities provider’s stock worth $104,000 after purchasing an additional 6,244 shares in the last quarter. Quest Partners LLC boosted its holdings in shares of Shenandoah Telecommunications by 741.0% during the third quarter. Quest Partners LLC now owns 7,636 shares of the utilities provider’s stock worth $108,000 after purchasing an additional 6,728 shares during the period. Finally, GAMMA Investing LLC grew its position in Shenandoah Telecommunications by 135.2% during the fourth quarter. GAMMA Investing LLC now owns 8,722 shares of the utilities provider’s stock valued at $110,000 after purchasing an additional 5,013 shares in the last quarter. 61.96% of the stock is owned by institutional investors and hedge funds.

Shenandoah Telecommunications Company Profile

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.