During the last session, Shoals Technologies Group Inc. (NASDAQ:SHLS)’s traded shares were 1.24 million. At the end of the trading day, the stock’s price was $21.98, reflecting an intraday loss of -3.43% or -$0.78. The 52-week high for the SHLS share is $36.86, that puts it down -67.7 from that peak though still a striking 56.41% gain since the share price plummeted to a 52-week low of $9.58. The company’s market capitalization is $2.96B, and the average intraday trading volume over the past 10 days was 1.94 million shares, and the average trade volume was 2.65 million shares over the past three months.
Shoals Technologies Group Inc. (SHLS) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.20. SHLS has a Sell rating from 0 analyst(s) out of 14 analysts who have looked at this stock. 4 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 9 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.07.
Shoals Technologies Group Inc. (NASDAQ:SHLS) trade information
Shoals Technologies Group Inc. (SHLS) registered a -3.43% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -3.43% in intraday trading to $21.98 this Wednesday, 08/03/22, hitting a weekly high. The stock’s 5-day price performance is 15.50%, and it has moved by 33.37% in 30 days. Based on these gigs, the overall price performance for the year is -27.96%. The short interest in Shoals Technologies Group Inc. (NASDAQ:SHLS) is 10.91 million shares and it means that shorts have 3.95 day(s) to cover.
The consensus price target of analysts on Wall Street is $23.92, which implies an increase of 8.11% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $16.00 and $40.00 respectively. As a result, SHLS is trading at a discount of -81.98% off the target high and 27.21% off the low.
Shoals Technologies Group Inc. (SHLS) estimates and forecasts
Statistics show that Shoals Technologies Group Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Shoals Technologies Group Inc. (SHLS) shares have gone up 27.57% during the last six months, with a year-to-date growth rate more than the industry average at 36.36% against 24.20. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -22.20% this quarter and then jump 28.60% in the quarter after that. In the rating firms’ projections, revenue will increase 47.10% compared to the previous financial year.
Revenue for the current quarter is expected to be $72.6 million as predicted by 11 analyst(s). Meanwhile, a consensus of 12 analyst(s) estimates revenue growth to $83.42 million by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $59.5 million and $61.64 million respectively. In this case, analysts expect current quarter sales to grow by 22.00% and then jump by 35.30% in the coming quarter.
While earnings are projected to return -88.80% in 2022.
Shoals Technologies Group Inc. is due to release its next quarterly earnings between March 14 and March 18. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Shoals Technologies Group Inc. (NASDAQ:SHLS)’s Major holders
Shoals Technologies Group Inc. insiders own 1.45% of total outstanding shares while institutional holders control 114.72%, with the float percentage being 116.41%. Blackrock Inc. is the largest shareholder of the company, while 310 institutions own stock in it. As of Mar 30, 2022, the company held over 18.98 million shares (or 16.88% of all shares), a total value of $323.37 million in shares.
The next largest institutional holding, with 12.73 million shares, is of Price (T.Rowe) Associates Inc’s that is approximately 11.33% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $216.96 million.
Also, the Mutual Funds coming in first place with the largest holdings of Shoals Technologies Group Inc. (SHLS) shares are Smallcap World Fund and Invesco ETF TR II-Invesco Solar ETF. Data provided on Mar 30, 2022 indicates that Smallcap World Fund owns about 4.24 million shares. This amounts to just over 3.77 percent of the company’s overall shares, with a $72.28 million market value. The same data shows that the other fund manager holds slightly less at 2.91 million, or about 2.59% of the stock, which is worth about $47.93 million.