Shoals Technologies Group Inc. [NASDAQ: SHLS] closed the trading session at $26.36 on 02/02/23. The day’s price range saw the stock hit a low of $26.15, while the highest price level was $28.90. The company report on December 15, 2022 that Shoals Technologies Group, Inc. Releases Inaugural Environmental, Social and Governance (ESG) Report.
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– Inaugural report highlights company’s accomplishments and approach to ESG strategy –.
The stocks have a year to date performance of 6.85 percent and weekly performance of -1.35 percent. The stock has been moved at 19.93 percent over the last six months. The stock has performed 10.11 percent around the most recent 30 days and changed 15.21 percent over the most recent 3-months.
If compared to the average trading volume of 2.85M shares, SHLS reached to a volume of 3773330 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 $31.92 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.
Cantor Fitzgerald have made an estimate for Shoals Technologies Group Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 25, 2023. The new note on the price target was released on November 15, 2022, representing the official price target for Shoals Technologies Group Inc. stock. Previously, the target price had yet another raise from $29 to $37.50, while Cowen kept a Outperform rating on SHLS stock.
The Average True Range (ATR) for Shoals Technologies Group Inc. is set at 2.00, with the Price to Sales ratio for SHLS stock in the period of the last 12 months amounting to 15.18. The Price to Book ratio for the last quarter was 114.61, 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 1181.81 with Quick ratio for the last quarter at 1.40.
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 -1.35. With this latest performance, SHLS shares gained by 10.11% in over the last four-week period, additionally plugging by 19.93% over the last 6 months – not to mention a rise of 52.99% 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 48.77, with the RSI for the last a single of trading hit 45.75, and the three-weeks RSI is set at 50.14 for Shoals Technologies Group Inc. [SHLS]. The present Moving Average for the last 50 days of trading for this stock 26.31, while it was recorded at 27.29 for the last single week of trading, and 21.44 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 1.40 and a Current Ratio set at 2.60.
Shoals Technologies Group Inc. [SHLS]: Insider Ownership positions
There are presently around $2,980 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 $254.54 million in SHLS stocks shares; and VANGUARD GROUP INC, currently with $177.88 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 March and at the time of the March reporting period, where 137 institutional holders increased their position in Shoals Technologies Group Inc. [NASDAQ:SHLS] by around 24,047,375 shares. Additionally, 102 investors decreased positions by around 26,003,341 shares, while 28 investors held positions by with 63,001,286 shares. The mentioned changes placed institutional holdings at 113,052,002 shares, according to the latest SEC report filing. SHLS stock had 58 new institutional investments in for a total of 13,803,249 shares, while 34 institutional investors sold positions of 4,013,872 shares during the same period.