Shares of Shenandoah Telecommunications (NASDAQ:SHEN – Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $10.42 and last traded at $10.67, with a volume of 9887 shares trading hands. The stock had previously closed at $10.50.
Wall Street Analyst Weigh In
Separately, BWS Financial reissued a “buy” rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a report on Wednesday, November 13th.
Check Out Our Latest Stock Analysis on Shenandoah Telecommunications
Shenandoah Telecommunications Stock Performance
Shenandoah Telecommunications (NASDAQ:SHEN – Get Free Report) last issued its quarterly 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 business had revenue of $87.60 million for the quarter, compared to analyst estimates of $88.80 million. During the same quarter in the prior year, the firm earned $0.03 EPS. Research analysts predict that Shenandoah Telecommunications will post -0.41 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Shenandoah Telecommunications
Several institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc raised its position in Shenandoah Telecommunications by 10,890.9% in 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 during the last quarter. nVerses Capital LLC acquired a new position in shares of Shenandoah Telecommunications during the 3rd quarter worth about $37,000. Quantbot Technologies LP raised its holdings in shares of Shenandoah Telecommunications by 570.2% in the 3rd quarter. Quantbot Technologies LP now owns 7,339 shares of the utilities provider’s stock valued at $104,000 after purchasing an additional 6,244 shares during the period. Quest Partners LLC lifted its stake in Shenandoah Telecommunications by 741.0% in the 3rd quarter. Quest Partners LLC now owns 7,636 shares of the utilities provider’s stock valued at $108,000 after purchasing an additional 6,728 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Shenandoah Telecommunications by 135.2% during the fourth 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 during the period. 61.96% of the stock is owned by institutional investors.
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.
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