Barclays lifts Shoals Technologies Group Inc. [SHLS] price estimate. Who else is bullish?

Shoals Technologies Group Inc. [NASDAQ: SHLS] plunged by -$0.95 during the normal trading session on Thursday and reaching a high of $27.66 during the day while it closed the day at $25.71. The company report on August 15, 2022 that Shoals Technologies Group, Inc. Reports Financial Results for Second Quarter 2022.

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– Revenue Grew 23% Year-Over-Year to Record $73.5 million in the Second Quarter –.

Shoals Technologies Group Inc. stock has also loss -6.07% of its value over the past 7 days. However, SHLS stock has inclined by 73.60% in the 3 months of the year. Over the past six months meanwhile, it has gained 89.60% and gained 5.80% year-on date.

The market cap for SHLS stock reached $4.62 billion, with 112.21 million shares outstanding and 110.62 million shares in the current float. Compared to the average trading volume of 2.38M shares, SHLS reached a trading volume of 1928181 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $30.23 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.

Barclays have made an estimate for Shoals Technologies Group Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on August 05, 2022. The new note on the price target was released on July 19, 2022, representing the official price target for Shoals Technologies Group Inc. stock. Previously, the target price had yet another raise from $16 to $25, while Truist kept a Buy rating on SHLS stock.

The Average True Range (ATR) for Shoals Technologies Group Inc. is set at 2.01, with the Price to Sales ratio for SHLS stock in the period of the last 12 months amounting to 18.51. The Price to Book ratio for the last quarter was 367.29, with the Price to Cash per share for the same quarter was set at 0.01.

SHLS stock trade performance evaluation

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 -6.07. With this latest performance, SHLS shares gained by 35.10% in over the last four-week period, additionally plugging by 89.60% over the last 6 months – not to mention a drop of -18.64% 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 57.56, with the RSI for the last a single of trading hit 55.50, and the three-weeks RSI is set at 58.31 for Shoals Technologies Group Inc. [SHLS]. The present Moving Average for the last 50 days of trading for this stock 20.51, while it was recorded at 25.64 for the last single week of trading, and 19.38 for the last 200 days.

Shoals Technologies Group Inc. [SHLS]: An insightful look at the core 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.

Earnings per share (EPS) analysis for Shoals Technologies Group Inc. [SHLS] stock

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 68.75%.

Shoals Technologies Group Inc. [SHLS]: Insider Ownership positions

There are presently around $3,026 million, in the hands of institutional investors. The top three institutional holders of SHLS stocks are: BLACKROCK INC. with ownership of 15,629,147, which is approximately -17.642% of the company’s market cap and around 1.30% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 13,426,495 shares of the stock with an approximate value of $345.19 million in SHLS stocks shares; and VANGUARD GROUP INC, currently with $173.11 million in SHLS stock with ownership of nearly 22.322% of the company’s market capitalization.

Positions in Shoals Technologies Group Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 127 institutional holders increased their position in Shoals Technologies Group Inc. [NASDAQ:SHLS] by around 33,975,569 shares. Additionally, 95 investors decreased positions by around 23,089,251 shares, while 21 investors held positions by with 60,617,113 shares. The mentioned changes placed institutional holdings at 117,681,933 shares, according to the latest SEC report filing. SHLS stock had 54 new institutional investments in for a total of 15,753,226 shares, while 37 institutional investors sold positions of 7,773,523 shares during the same period.


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