Shoals Technologies Group Inc. [NASDAQ: SHLS] stock went on an upward path that rose over 21.48% on Monday, amounting to a one-week price increase of more than 17.73%. The company report on May 16, 2022 that Shoals Technologies Group, Inc. Reports Financial Results for First Quarter 2022.
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– First Quarter Revenue Increased 49% Year-Over-Year to Record $68.0 million –.
Over the last 12 months, SHLS stock dropped by -31.09%. The one-year Shoals Technologies Group Inc. stock forecast points to a potential upside of 15.49. The average equity rating for SHLS stock is currently 2.20, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $3.18 billion, with 112.21 million shares outstanding and 110.79 million shares in the current float. Compared to the average trading volume of 2.99M shares, SHLS stock reached a trading volume of 5833572 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $22.08 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.
Northland Capital have made an estimate for Shoals Technologies Group Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on May 10, 2022. While these analysts kept the previous recommendation, Piper Sandler dropped their target price from $26 to $16. The new note on the price target was released on April 08, 2022, representing the official price target for Shoals Technologies Group Inc. stock.
The Average True Range (ATR) for Shoals Technologies Group Inc. is set at 1.48, with the Price to Sales ratio for SHLS stock in the period of the last 12 months amounting to 13.49. The Price to Book ratio for the last quarter was 266.57, with the Price to Cash per share for the same quarter was set at 0.01.
SHLS Stock Performance Analysis:
Shoals Technologies Group Inc. [SHLS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 17.73. With this latest performance, SHLS shares gained by 35.22% in over the last four-week period, additionally sinking by -30.01% over the last 6 months – not to mention a drop of -31.09% 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 70.40, with the RSI for the last a single of trading hit 77.47, and the three-weeks RSI is set at 64.39 for Shoals Technologies Group Inc. [SHLS]. The present Moving Average for the last 50 days of trading for this stock 14.05, while it was recorded at 16.04 for the last single week of trading, and 22.17 for the last 200 days.
Insight into Shoals Technologies Group Inc. 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 2.30 and a Current Ratio set at 3.60.
SHLS Stock EPS
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 70.91%.
Shoals Technologies Group Inc. [SHLS] Insider Position Details
There are presently around $1,736 million, in the hands of institutional investors. The top three institutional holders of SHLS stocks are: BLACKROCK INC. with ownership of 18,977,093, which is approximately -4.534% of the company’s market cap and around 1.40% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 12,732,109 shares of the stock with an approximate value of $195.56 million in SHLS stocks shares; and INVESCO LTD., currently with $108.5 million in SHLS stock with ownership of nearly 0.787% of the company’s market capitalization.
139 institutional holders increased their position in Shoals Technologies Group Inc. [NASDAQ:SHLS] by around 24,269,238 shares. Additionally, 72 investors decreased positions by around 23,435,455 shares, while 13 investors held positions by with 65,315,989 shares. The mentioned changes placed institutional holdings at 113,020,682 shares, according to the latest SEC report filing. SHLS stock had 54 new institutional investments in for a total of 4,735,129 shares, while 30 institutional investors sold positions of 2,434,956 shares during the same period.