Shenandoah Telecommunications (NASDAQ:SHEN) Shares Gap Down - Here's What Happened

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $12.87, but opened at $12.39. Shenandoah Telecommunications shares last traded at $13.07, with a volume of 5,103 shares traded.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SHEN shares. BWS Financial reaffirmed a "buy" rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a research report on Tuesday, February 25th. StockNews.com raised Shenandoah Telecommunications to a "sell" rating in a research report on Friday, April 11th.

Shenandoah Telecommunications Price Performance

The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 0.44. The business's 50-day moving average is $12.15 and its two-hundred day moving average is $12.62. The company has a market capitalization of $716.97 million, a P/E ratio of 3.45 and a beta of 0.81.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The utilities provider reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.07). Shenandoah Telecommunications had a negative return on equity of 2.50% and a net margin of 58.03%. The business had revenue of $85.41 million for the quarter, compared to the consensus estimate of $89.65 million. As a group, analysts predict that Shenandoah Telecommunications will post -0.49 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Shenandoah Telecommunications by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,716 shares of the utilities provider's stock valued at $349,000 after purchasing an additional 1,061 shares during the last quarter. Nebula Research & Development LLC grew its stake in shares of Shenandoah Telecommunications by 5.5% during the 4th quarter. Nebula Research & Development LLC now owns 22,076 shares of the utilities provider's stock worth $278,000 after acquiring an additional 1,147 shares during the period. PAX Financial Group LLC increased its holdings in Shenandoah Telecommunications by 3.8% in the 4th quarter. PAX Financial Group LLC now owns 37,118 shares of the utilities provider's stock worth $468,000 after acquiring an additional 1,353 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Shenandoah Telecommunications by 11.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,735 shares of the utilities provider's stock valued at $173,000 after acquiring an additional 1,380 shares during the period. Finally, LPL Financial LLC lifted its holdings in Shenandoah Telecommunications by 5.9% during the fourth quarter. LPL Financial LLC now owns 38,461 shares of the utilities provider's stock valued at $485,000 after purchasing an additional 2,143 shares during 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.