Shenandoah Telecommunications (NASDAQ:SHEN) Hits New 1-Year Low – Here’s Why

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

Analysts Set New Price Targets

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

Shenandoah Telecommunications Stock Performance

The stock has a market capitalization of $628.99 million, a P/E ratio of 2.96 and a beta of 0.63. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.79 and a current ratio of 0.79. The company’s fifty day simple moving average is $12.71 and its two-hundred day simple moving average is $14.52.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings results on Thursday, November 7th. The utilities provider reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The company had revenue of $87.60 million during the quarter, compared to the consensus estimate 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 period in the prior year, the company earned $0.03 earnings per share. As a group, equities analysts forecast that Shenandoah Telecommunications will post -0.41 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Versant Capital Management Inc grew its position in shares of 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 worth $30,000 after purchasing an additional 2,396 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Shenandoah Telecommunications during the 3rd quarter worth approximately $37,000. Quantbot Technologies LP grew its position in shares of 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 purchasing an additional 6,244 shares in the last quarter. Quest Partners LLC grew its position in shares of 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 purchasing an additional 6,728 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Shenandoah Telecommunications by 135.2% during 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 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.