Shoals Technologies Group Inc. [SHLS] Stock trading around $10.68 per share: What’s Next?

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Shoals Technologies Group Inc. [NASDAQ: SHLS] traded at a low on 04/21/22, posting a -14.63 loss after which it closed the day’ session at $10.68. The company report on April 8, 2022 that Shoals Technologies Group, Inc. Announces Management Transition and First Quarter Earnings Release Date.

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– Appoints Interim Chief Financial Officer –.

– First Quarter Earnings Call to be Held May 16, 2022 –.

The results of the trading session contributed to over 5828821 shares changing hands. Over the past one week, the price volatility of Shoals Technologies Group Inc. stands at 11.51% while the volatility over the past one month is 9.22%.

The market cap for SHLS stock reached $1.90 billion, with 108.01 million shares outstanding and 97.17 million shares in the current float. Compared to the average trading volume of 2.76M shares, SHLS reached a trading volume of 5828821 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Shoals Technologies Group Inc. [SHLS]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SHLS shares is $27.18 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SHLS stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Piper Sandler have made an estimate for Shoals Technologies Group Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 08, 2022. While these analysts kept the previous recommendation, Colliers Securities raised their target price to Neutral. The new note on the price target was released on March 30, 2022, representing the official price target for Shoals Technologies Group Inc. stock. Previously, the target price had yet another raise to $22, while Guggenheim analysts kept a Buy rating on SHLS stock. On January 24, 2022, analysts decreased their price target for SHLS shares from 34 to 20.

The Average True Range (ATR) for Shoals Technologies Group Inc. is set at 1.43, with the Price to Sales ratio for SHLS stock in the period of the last 12 months amounting to 8.92. The Price to Book ratio for the last quarter was 534.00, with the Price to Cash per share for the same quarter was set at 0.03.

How has SHLS stock performed recently?

Shoals Technologies Group Inc. [SHLS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.95. With this latest performance, SHLS shares dropped by -50.74% in over the last four-week period, additionally sinking by -61.18% over the last 6 months – not to mention a drop of -68.44% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SHLS stock in for the last two-week period is set at 29.81, with the RSI for the last a single of trading hit 23.54, and the three-weeks RSI is set at 34.19 for Shoals Technologies Group Inc. [SHLS]. The present Moving Average for the last 50 days of trading for this stock 15.95, while it was recorded at 12.38 for the last single week of trading, and 24.79 for the last 200 days.

Shoals Technologies Group Inc. [SHLS]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Shoals Technologies Group Inc. [SHLS] shares currently have an operating margin of +18.07 and a Gross Margin at +34.67. Shoals Technologies Group Inc.’s Net Margin is presently recorded at +1.10.

Shoals Technologies Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 3.00.

Earnings analysis for Shoals Technologies Group Inc. [SHLS]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SHLS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Shoals Technologies Group Inc. go to 71.86%.

Insider trade positions for Shoals Technologies Group Inc. [SHLS]

There are presently around $1,447 million, in the hands of institutional investors. The top three institutional holders of SHLS stocks are: BLACKROCK INC. with ownership of 19,878,401, which is approximately 7.903% of the company’s market cap and around 0.80% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 11,331,120 shares of the stock with an approximate value of $141.75 million in SHLS stocks shares; and VANGUARD GROUP INC, currently with $115.15 million in SHLS stock with ownership of nearly 2.677% of the company’s market capitalization.

Positions in Shoals Technologies Group Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 105 institutional holders increased their position in Shoals Technologies Group Inc. [NASDAQ:SHLS] by around 16,656,131 shares. Additionally, 75 investors decreased positions by around 10,866,102 shares, while 16 investors held positions by with 88,177,722 shares. The mentioned changes placed institutional holdings at 115,699,955 shares, according to the latest SEC report filing. SHLS stock had 35 new institutional investments in for a total of 6,436,961 shares, while 29 institutional investors sold positions of 1,692,231 shares during the same period.