BWS Financial Reaffirms Buy Rating for Shenandoah Telecommunications (NASDAQ:SHEN)

Shenandoah Telecommunications (NASDAQ:SHEN)‘s stock had its “buy” rating reaffirmed by equities research analysts at BWS Financial in a research note issued on Wednesday,Benzinga reports. They presently have a $26.00 target price on the utilities provider’s stock. BWS Financial’s price target indicates a potential upside of 98.47% from the company’s current price.

Separately, StockNews.com raised Shenandoah Telecommunications to a “sell” rating in a research note on Tuesday, July 30th.

Shenandoah Telecommunications Stock Performance

Shares of Shenandoah Telecommunications stock opened at $13.10 on Wednesday. Shenandoah Telecommunications has a 52 week low of $11.87 and a 52 week high of $24.32. 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 stock has a market capitalization of $715.26 million, a price-to-earnings ratio of 3.36 and a beta of 0.67. The firm has a fifty day moving average of $14.25 and a two-hundred day moving average of $15.92.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC acquired a new position in shares of Shenandoah Telecommunications in the third quarter valued at approximately $37,000. GAMMA Investing LLC lifted its position in Shenandoah Telecommunications by 85.1% in the 2nd quarter. GAMMA Investing LLC now owns 4,599 shares of the utilities provider’s stock valued at $75,000 after acquiring an additional 2,115 shares in the last quarter. Quantbot Technologies LP boosted its stake in Shenandoah Telecommunications by 570.2% in 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 during the period. Quest Partners LLC increased its holdings in 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, SG Americas Securities LLC acquired a new stake in shares of Shenandoah Telecommunications in the 1st quarter valued at about $109,000. 61.96% of the stock is currently 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.