Shenandoah Telecommunications (NASDAQ:SHEN) Shares Gap Up - Here's Why

Key Points

• Shenandoah Telecommunications shares gapped up at the open, rising from a prior close of $11.11 to $11.69 before trading around $11.65.
• Analyst sentiment is mixed, but the company still has a consensus Hold rating with an average price target of $27.50; two analysts rate it Buy while one rates it Sell.
• The company recently posted a quarterly EPS loss of $0.31, wider than expected, though revenue came in slightly above estimates at $92.15 million.

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $11.11, but opened at $11.69. Shenandoah Telecommunications shares last traded at $11.6510, with a volume of 7,527 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. BWS Financial reaffirmed a "buy" rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a research report on Monday, May 4th. Craig Hallum assumed coverage on Shenandoah Telecommunications in a research note on Thursday, April 9th. They set a "buy" rating and a $29.00 target price on the stock. Weiss Ratings cut Shenandoah Telecommunications from a "sell (d+)" rating to a "sell (d-)" rating in a research note on Monday, May 4th. Finally, Wall Street Zen downgraded Shenandoah Telecommunications from a "hold" rating to a "sell" rating in a report on Saturday, May 2nd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Shenandoah Telecommunications currently has a consensus rating of "Hold" and an average price target of $27.50.

Shenandoah Telecommunications Price Performance

The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.80. The business's 50 day moving average price is $14.76 and its two-hundred day moving average price is $14.17. The stock has a market cap of $643.92 million, a P/E ratio of -14.54 and a beta of 0.67.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The utilities provider reported ($0.31) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.07). Shenandoah Telecommunications had a negative return on equity of 4.64% and a negative net margin of 11.35%.The company had revenue of $92.15 million during the quarter, compared to the consensus estimate of $91.34 million. As a group, sell-side analysts expect that Shenandoah Telecommunications Co will post -1.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SHEN. Caitlin John LLC boosted its position in shares of Shenandoah Telecommunications by 324.0% during the fourth quarter. Caitlin John LLC now owns 4,550 shares of the utilities provider's stock valued at $53,000 after purchasing an additional 3,477 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Shenandoah Telecommunications by 11,367.6% during the third quarter. Russell Investments Group Ltd. now owns 4,243 shares of the utilities provider's stock valued at $57,000 after buying an additional 4,206 shares during the period. State of Wyoming purchased a new position in Shenandoah Telecommunications during the second quarter valued at $65,000. iSAM Funds UK Ltd bought a new stake in shares of Shenandoah Telecommunications during the 3rd quarter valued at $67,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Shenandoah Telecommunications by 80.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the utilities provider's stock valued at $68,000 after buying an additional 2,228 shares in the last quarter. Hedge funds and other institutional investors own 61.96% of the company's stock.

About Shenandoah Telecommunications

Shenandoah Telecommunications Company operates as a diversified communications provider offering both wireless and wireline services across rural markets in the Mid-Atlantic region. Headquartered in Edinburg, Virginia, the company designs, builds and maintains network infrastructure to deliver mobile connectivity, high-speed broadband access and related telecommunications solutions to residential, business and wholesale customers.

In its wireless segment, the company owns and operates a portfolio of cellular towers and associated spectrum under a long-term partnership with a national carrier.

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