Shoals Technologies Group Inc [SHLS] Revenue clocked in at $488.94 million, down -30.82% YTD: What’s Next?

Shoals Technologies Group Inc [NASDAQ: SHLS] slipped around -0.63 points on Tuesday, while shares priced at $10.75 at the close of the session, down -5.54%. The company report on March 12, 2024 at 8:00 AM that Shoals Technologies Group Asserts Its Intellectual Property Rights and Vows to Defend Patent.

In light of a recent ruling by an Administrative Law Judge at the ITC to remove one of two asserted patents, U.S. Patent 10,553,739 (the “‘739 patent”), from the scope of the upcoming evidentiary hearing, Shoals Technologies Group remains resolute in its stance to safeguard its unique products and pursue all available legal avenues.

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Compared to the average trading volume of 3.75M shares, SHLS reached a trading volume of 4380658 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 $18.85 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 1.52. 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.

TD Cowen have made an estimate for Shoals Technologies Group Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 29, 2024. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price to Outperform. The new note on the price target was released on February 14, 2024, representing the official price target for Shoals Technologies Group Inc stock. Previously, the target price had yet another drop from $17 to $15, while Barclays kept a Equal Weight rating on SHLS stock.

The Average True Range (ATR) for Shoals Technologies Group Inc is set at 0.72, with the Price to Sales ratio for SHLS stock in the period of the last 12 months amounting to 3.74. The Price to Book ratio for the last quarter was 3.36, with the Price to Cash per share for the same quarter was set at 0.13. Price to Free Cash Flow for SHLS in the course of the last twelve months was 22.50 with Quick ratio for the last quarter at 1.88.

How has SHLS stock performed recently?

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 -8.82. With this latest performance, SHLS shares dropped by -19.48% in over the last four-week period, additionally sinking by -41.10% over the last 6 months – not to mention a drop of -51.84% 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 35.28, with the RSI for the last a single of trading hit 33.02, and the three-weeks RSI is set at 37.36 for Shoals Technologies Group Inc [SHLS]. The present Moving Average for the last 50 days of trading for this stock 13.62, while it was recorded at 11.24 for the last single week of trading, and 17.45 for the last 200 days.

Shoals Technologies Group Inc [SHLS]: Deeper insight into the fundamentals

Shoals Technologies Group Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.88 and a Current Ratio set at 2.45.

Earnings analysis for Shoals Technologies Group Inc [SHLS]

With the latest financial reports released by the company, Shoals Technologies Group Inc posted 0.14/share EPS, while the average EPS was predicted by analysts to be reported at 0.1/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 40.00%. 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 15.40%.

Insider trade positions for Shoals Technologies Group Inc [SHLS]

The top three institutional holders of SHLS stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in SHLS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in SHLS stock with ownership which is approximately 5.8386%.