Shoals Technologies Group Inc [SHLS] gain 4.50% so far this year. What now?

Shoals Technologies Group Inc [NASDAQ: SHLS] gained 4.64% or 0.72 points to close at $16.24 with a heavy trading volume of 3275257 shares. The company report on February 8, 2024 at 4:10 PM that Shoals Technologies Group, Inc. Announces Fourth Quarter 2023 Earnings Release Date and Conference Call.

Interested investors and other parties can listen to a webcast of the live conference call by logging onto the Investor Relations section of the Company’s website at https://investors.shoals.com.

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The daily chart for SHLS points out that the company has recorded -21.47% loss over the past six months.

If we look at the average trading volume of 3.50M shares, SHLS reached to a volume of 3275257 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $24.58 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 1.45. 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.

RBC Capital Mkts have made an estimate for Shoals Technologies Group Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on Feb-15-24.

The Average True Range (ATR) for Shoals Technologies Group Inc is set at 0.90, with the Price to Sales ratio for SHLS stock in the period of the last 12 months amounting to 6.09. The Price to Book ratio for the last quarter was 5.26, with the Price to Cash per share for the same quarter was set at 0.05. Price to Free Cash Flow for SHLS in the course of the last twelve months was 30.15 with Quick ratio for the last quarter at 1.82.

Trading performance analysis for SHLS stock

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 5.80. With this latest performance, SHLS shares gained by 23.31% in over the last four-week period, additionally sinking by -21.47% over the last 6 months – not to mention a drop of -37.08% 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 61.34, with the RSI for the last a single of trading hit 63.22, and the three-weeks RSI is set at 58.73 for Shoals Technologies Group Inc [SHLS]. The present Moving Average for the last 50 days of trading for this stock 14.54, while it was recorded at 16.14 for the last single week of trading, and 19.05 for the last 200 days.

Shoals Technologies Group Inc [SHLS]: A deeper dive into fundamental analysis

Shoals Technologies Group Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.82 and a Current Ratio set at 2.54.

Shoals Technologies Group Inc [SHLS]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Shoals Technologies Group Inc posted 0.15/share EPS, while the average EPS was predicted by analysts to be reported at 0.09/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 66.70%. 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 33.30%.

An analysis of Institutional ownership at Shoals Technologies Group Inc [SHLS]

The top three institutional holders of SHLS stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SHLS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SHLS stock with ownership which is approximately 5.8325%.