Northland Capital slashes price target on Shoals Technologies Group Inc. [SHLS] – find out why.

Shoals Technologies Group Inc. [NASDAQ: SHLS] stock went on an upward path that rose over 6.71% on Thursday, amounting to a one-week price increase of more than 15.60%. The company report on December 15, 2022 that Shoals Technologies Group, Inc. Releases Inaugural Environmental, Social and Governance (ESG) Report.

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Over the last 12 months, SHLS stock rose by 20.02%. The one-year Shoals Technologies Group Inc. stock forecast points to a potential upside of 15.07. The average equity rating for SHLS stock is currently 2.40, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $4.64 billion, with 112.97 million shares outstanding and 112.10 million shares in the current float. Compared to the average trading volume of 2.63M shares, SHLS stock reached a trading volume of 2543723 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 $32.19 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 1.76, with the Price to Sales ratio for SHLS stock in the period of the last 12 months amounting to 16.55. The Price to Book ratio for the last quarter was 118.87, with the Price to Cash per share for the same quarter was set at 0.07. Price to Free Cash Flow for SHLS in the course of the last twelve months was 1288.70 with Quick ratio for the last quarter at 1.40.

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 15.60. With this latest performance, SHLS shares gained by 13.68% in over the last four-week period, additionally plugging by 67.32% over the last 6 months – not to mention a rise of 20.02% 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 60.09, with the RSI for the last a single of trading hit 66.97, and the three-weeks RSI is set at 56.94 for Shoals Technologies Group Inc. [SHLS]. The present Moving Average for the last 50 days of trading for this stock 25.18, while it was recorded at 24.68 for the last single week of trading, and 20.58 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 1.40 and a Current Ratio set at 2.60.

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 73.62%.

Shoals Technologies Group Inc. [SHLS] Insider Position Details

There are presently around $3,042 million, or 94.60% of SHLS stock, 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 1.00% of the total institutional ownership; T. ROWE PRICE INVESTMENT MANAGEMENT, INC., holding 9,656,427 shares of the stock with an approximate value of $264.01 million in SHLS stocks shares; and VANGUARD GROUP INC, currently with $184.49 million in SHLS stock with ownership of nearly 0.224% of the company’s market capitalization.

127 institutional holders increased their position in Shoals Technologies Group Inc. [NASDAQ:SHLS] by around 22,659,561 shares. Additionally, 99 investors decreased positions by around 26,057,262 shares, while 30 investors held positions by with 62,531,455 shares. The mentioned changes placed institutional holdings at 111,248,278 shares, according to the latest SEC report filing. SHLS stock had 53 new institutional investments in for a total of 13,913,373 shares, while 31 institutional investors sold positions of 3,954,922 shares during the same period.

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