Shenandoah Telecommunications (NASDAQ:SHEN) Sets New 1-Year Low – Should You Sell?

Shenandoah Telecommunications Co (NASDAQ:SHEN)’s share price reached a new 52-week low during trading on Wednesday. The stock traded as low as $9.66 and last traded at $9.6560, with a volume of 214,958 shares changing hands. The stock had previously closed at $10.14.

Analysts Set New Price Targets

Several analysts have issued reports on SHEN shares. BWS Financial reissued a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a report on Thursday, July 30th. Wall Street Zen upgraded Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Shenandoah Telecommunications in a research note on Friday, July 31st. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $27.50.

Shenandoah Telecommunications Price Performance

The firm has a market capitalization of $531.55 million, a PE ratio of -12.31 and a beta of 0.76. The firm’s fifty day moving average price is $11.78 and its 200 day moving average price is $13.66. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.83.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its earnings results on Wednesday, July 29th. The utilities provider reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.11. Shenandoah Telecommunications had a negative net margin of 10.83% and a negative return on equity of 4.54%. The firm had revenue of $93.46 million during the quarter, compared to analysts’ expectations of $92.83 million. As a group, equities analysts forecast that Shenandoah Telecommunications Co will post -0.85 earnings per share for the current year.

Insider Activity

In other Shenandoah Telecommunications news, CFO James Volk bought 4,283 shares of the business’s stock in a transaction on Friday, July 31st. The stock was bought at an average price of $11.67 per share, with a total value of $49,982.61. Following the completion of the purchase, the chief financial officer directly owned 92,671 shares in the company, valued at $1,081,470.57. The trade was a 4.85% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.01% of the company’s stock.

Hedge Funds Weigh In On Shenandoah Telecommunications

Several institutional investors have recently modified their holdings of SHEN. BlackRock Inc. purchased a new position in Shenandoah Telecommunications in the second quarter worth approximately $106,907,000. Bank of New York Mellon Corp purchased a new position in shares of Shenandoah Telecommunications in the 2nd quarter valued at $4,041,000. Empowered Funds LLC acquired a new stake in Shenandoah Telecommunications during the 2nd quarter worth $3,974,000. Legal & General Group Plc acquired a new stake in Shenandoah Telecommunications during the 2nd quarter worth $1,538,000. Finally, Bank of America Corp DE purchased a new position in shares of Shenandoah Telecommunications during the second quarter worth about $1,050,000. Institutional investors and hedge funds own 61.96% of the company’s stock.

About Shenandoah Telecommunications

Shenandoah Telecommunications Company, doing business as Shentel, is a telecommunications provider headquartered in Edinburg, Virginia. The company builds and operates broadband networks serving residential, business and institutional customers in communities across the Mid-Atlantic, including portions of Virginia, West Virginia, Maryland and Pennsylvania.

Shentel provides high-speed internet, digital video and voice services through its Glo Fiber and traditional cable broadband networks.