Shoals Technologies Group Inc. [NASDAQ: SHLS] jumped around 4.93 points on Tuesday, while shares priced at $27.40 at the close of the session, up 21.94%. The company report on November 14, 2022 that Shoals Technologies Group, Inc. Reports Financial Results for Third Quarter 2022.
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– Reports Record Quarterly Revenue, Gross Profit, Adjusted EBITDA and Adjusted Net Income –.
– Revenue Grew 52% Year-Over-Year to $90.8 million in the Third Quarter –.
Shoals Technologies Group Inc. stock is now 12.76% up from its year-to-date (YTD) trading value. SHLS Stock saw the intraday high of $30.10 and lowest of $25.79 per share. The company’s 52-week high price is 36.86, which means current price is +186.01% above from all time high which was touched on 11/15/22.
Compared to the average trading volume of 1.63M shares, SHLS reached a trading volume of 10302553 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 $31.21 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 2.40. 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 November 15, 2022. While these analysts kept the previous recommendation, Cowen raised their target price from $29 to $37.50. The new note on the price target was released on September 16, 2022, representing the official price target for Shoals Technologies Group Inc. stock. On September 08, 2022, analysts decreased their price target for SHLS shares from 23 to 21.
The Average True Range (ATR) for Shoals Technologies Group Inc. is set at 2.12, with the Price to Sales ratio for SHLS stock in the period of the last 12 months amounting to 18.62. The Price to Book ratio for the last quarter was 210.77, with the Price to Cash per share for the same quarter was set at 0.06.
How has SHLS stock performed recently?
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 39.23. With this latest performance, SHLS shares gained by 33.14% in over the last four-week period, additionally plugging by 104.17% over the last 6 months – not to mention a drop of -25.03% 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 68.95, with the RSI for the last a single of trading hit 75.63, and the three-weeks RSI is set at 64.10 for Shoals Technologies Group Inc. [SHLS]. The present Moving Average for the last 50 days of trading for this stock 22.45, while it was recorded at 23.35 for the last single week of trading, and 18.70 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 2.80.
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 68.75%.
Insider trade positions for Shoals Technologies Group Inc. [SHLS]
There are presently around $3,101 million, in the hands of institutional investors. The top three institutional holders of SHLS stocks are: BLACKROCK INC. with ownership of 13,214,781, which is approximately -15.448% of the company’s market cap and around 1.10% of the total institutional ownership; T. ROWE PRICE INVESTMENT MANAGEMENT, INC., holding 9,656,427 shares of the stock with an approximate value of $264.59 million in SHLS stocks shares; and VANGUARD GROUP INC, currently with $184.9 million in SHLS stock with ownership of nearly 0.224% of the company’s market capitalization.
Positions in Shoals Technologies Group Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 125 institutional holders increased their position in Shoals Technologies Group Inc. [NASDAQ:SHLS] by around 23,324,817 shares. Additionally, 99 investors decreased positions by around 26,069,265 shares, while 30 investors held positions by with 63,772,907 shares. The mentioned changes placed institutional holdings at 113,166,989 shares, according to the latest SEC report filing. SHLS stock had 51 new institutional investments in for a total of 13,843,490 shares, while 30 institutional investors sold positions of 3,952,539 shares during the same period.