Could Shoals Technologies Group Inc. (NASDAQ: SHLS) Deliver Exceptional Returns? – Marketing Sentinel
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Could Shoals Technologies Group Inc. (NASDAQ: SHLS) Deliver Exceptional Returns?

In the last trading session, 2.48 million shares of the Shoals Technologies Group Inc. (NASDAQ:SHLS) were traded. Most recently the company’s share price was $18.86, and it changed around -$0.71 or -3.63% from the last close, which brings the market valuation of the company to $2.83B. SHLS currently trades at a discount to its 52-week high of $37.61, offering almost -99.42% off that amount. The share price’s 52-week low was $9.58, which indicates that the current value has risen by an impressive 49.2% since then. We note from Shoals Technologies Group Inc.’s average daily trading volume that its 10-day average is 2.62 million shares, with the 3-month average coming to 3.00 million.

Shoals Technologies Group Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.20. If we narrow it down even further, the data shows that 0 out of 14 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 4 recommended SHLS as a Hold, whereas 10 deemed it a Buy, and 0 rated it as Underweight. Shoals Technologies Group Inc. is expected to report earnings per share of $0.07 for the current quarter.

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Shoals Technologies Group Inc. (NASDAQ:SHLS) trade information

Instantly SHLS has showed a red trend with a performance of -3.63% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 21.27 on Tuesday, 06/21/22 increased the stock’s daily price by 11.33%. The company’s shares are currently down -22.39% year-to-date, but still up 8.14% over the last five days. On the other hand, Shoals Technologies Group Inc. (NASDAQ:SHLS) is 26.15% up in the 30-day period. We can see from the shorts that 13.09 million shares have been sold at a short interest cover period of 4.07 day(s).

The consensus price target as assigned by Wall Street analysts is $23.62, which translates to bulls needing to increase their stock price by 20.15% from its current value. Analyst projections state that SHLS is forecast to be at a low of $15.00 and a high of $40.00. In order for the stock price to hit the forecast high, the stock would need to plunge -112.09% from its current level, while the stock would need to crash 20.47% from its current level to reach the projected low.

Shoals Technologies Group Inc. (SHLS) estimates and forecasts

Shoals Technologies Group Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -26.10 percent over the past six months and at a 36.36% annual growth rate that is well above the industry average of 22.70%. The year-over-year growth rate is expected to be 52.20%, up from the previous year.

Consensus estimates provided by 10 financial analysts predict the company will bring in an average of $70.38 million in revenue for the current quarter. 10 analysts expect Shoals Technologies Group Inc. to make $82.5 million in revenue for the quarter ending Jun 2022. The company’s sales for the same quarters a year ago were $45.6 million and $59.5 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 54.30%. Forecasts for the next quarter put sales growth at 38.70%.

Shoals Technologies Group Inc. earnings are expected to increase by -88.80% in 2022, but the outlook is positive 70.91% per year for the next five years.

SHLS Dividends

Shoals Technologies Group Inc.’s next quarterly earnings report is expected to be released around March 14 and March 18.

Shoals Technologies Group Inc. (NASDAQ:SHLS)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 1.46% of Shoals Technologies Group Inc. shares, and 103.75% of them are in the hands of institutional investors. The stock currently has a share float of 105.28%. Shoals Technologies Group Inc. stock is held by 276 institutions, with Blackrock Inc. being the largest institutional investor. By Mar 30, 2022, it held 16.90% of the shares, which is about 18.98 million shares worth $323.37 million.

Price (T.Rowe) Associates Inc, with 10.09% or 11.33 million shares worth $275.35 million as of Dec 30, 2021, holds the second largest percentage of outstanding shares.

Blackrock Funds-Mid-Cap Growth Equity Portfolio and Invesco ETF TR II-Invesco Solar ETF were the top two Mutual Funds as of Feb 27, 2022. The former held 3.99 million shares worth $63.12 million, making up 3.56% of all outstanding shares. On the other hand, Invesco ETF TR II-Invesco Solar ETF held roughly 3.23 million shares worth around $51.13 million, which represents about 2.88% of the total shares outstanding.

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