In last trading session, Shoals Technologies Group Inc. (NASDAQ:SHLS) saw 1.48 million shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $21.19 trading at -$1.87 or -8.11% at ring of the bell on the day assigns it a market valuation of $3.60B. That closing price of SHLS’s stock is at a discount of -73.95% from its 52-week high price of $36.86 and is indicating a premium of 54.79% from its 52-week low price of $9.58. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 1.89 million shares which gives us an average trading volume of 2.06 million if we extend that period to 3-months.
Shoals Technologies Group Inc. (NASDAQ:SHLS) trade information
Upright in the red during last session for losing -8.11%, in the last five days SHLS remained trading in the red while hitting it’s week-highest on Friday, 09/16/22 when the stock touched $21.19 price level, adding 15.64% to its value on the day. Shoals Technologies Group Inc.’s shares saw a change of -12.80% in year-to-date performance and have moved -14.49% in past 5-day. Shoals Technologies Group Inc. (NASDAQ:SHLS) showed a performance of -16.25% in past 30-days. Number of shares sold short was 10.91 million shares which calculate 3.95 days to cover the short interests.
Shoals Technologies Group Inc. (SHLS) estimates and forecasts
Statistics highlight that Shoals Technologies Group Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -4.81% of value to its shares in past 6 months, showing an annual growth rate of 31.82% while that of industry is 15.40. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to decrease by -22.20% in the current quarter and calculating 28.60% increase in the next quarter. This year revenue growth is estimated to rise 47.10% from the last financial year’s standing.
11 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $72.6 million for the same. And 12 analysts are in estimates of company making revenue of $83.42 million in the next quarter that will end on Sep 2022. Company posted $59.5 million and $61.64 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 22.00% while estimating it to be 35.30% for the next quarter.
In 2022, company’s earnings growth rate is likely to be around -88.80% while estimates for its earnings growth in next 5 years are of 68.75%.
Shoals Technologies Group Inc. is more likely to be releasing its next quarterly report between March 14 and March 18 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Shoals Technologies Group Inc. (NASDAQ:SHLS)’s Major holders
Insiders are in possession of 1.45% of company’s total shares while institution are holding 114.72 percent of that, with stock having share float percentage of 116.41%. Investors also watch the number of corporate investors in a company very closely, which is 114.72% institutions for Shoals Technologies Group Inc. that are currently holding shares of the company. Blackrock Inc. is the top institutional holder at SHLS for having 18.98 million shares of worth $323.37 million. And as of Mar 30, 2022, it was holding 16.88% of the company’s outstanding shares.
The second largest institutional holder is Price (T.Rowe) Associates Inc, which was holding about 12.73 million shares on Mar 30, 2022. The number of shares represents firm’s hold over 11.33% of outstanding shares, having a total worth of $216.96 million.
On the other hand, Smallcap World Fund and Invesco ETF TR II-Invesco Solar ETF are the top two Mutual Funds which own company’s shares. As of Mar 30, 2022, the former fund manager was holding 4.24 million shares of worth $72.28 million or 3.77% of the total outstanding shares. The later fund manager was in possession of 2.91 million shares on Jun 29, 2022, making its stake of worth around $47.93 million in the company or a holder of 2.59% of company’s stock.