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Shoals Technologies Group Inc. (NASDAQ:SHLS) 8.47% Up Over Last Week, What Happens Next?

In last trading session, Shoals Technologies Group Inc. (NASDAQ:SHLS) saw 1.32 million shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $30.88 trading at $0.49 or 1.61% at ring of the bell on the day assigns it a market valuation of $5.27B. That closing price of SHLS’s stock is at a discount of -5.02% from its 52-week high price of $32.43 and is indicating a premium of 68.98% 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 3.31 million shares which gives us an average trading volume of 1.83 million if we extend that period to 3-months.

For Shoals Technologies Group Inc. (SHLS), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.40. Splitting up the data highlights that, out of 15 analysts covering the stock, 1 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 4 suggested the stock as a Hold whereas 9 see the stock as a Buy. 1 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.08 in the current quarter.

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

Upright in the green during last session for gaining 1.61%, in the last five days SHLS remained trading in the green while hitting it’s week-highest on Monday, 11/21/22 when the stock touched $30.88 price level, adding 4.78% to its value on the day. Shoals Technologies Group Inc.’s shares saw a change of 27.08% in year-to-date performance and have moved 8.47% in past 5-day. Shoals Technologies Group Inc. (NASDAQ:SHLS) showed a performance of 36.64% in past 30-days. Number of shares sold short was 9.14 million shares which calculate 5.66 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $31.82 to the stock, which implies a rise of 2.95% to its current value. Analysts have been projecting $20.00 as a low price target for the stock while placing it at a high target of $41.00. It follows that stock’s current price would drop -32.77% in reaching the projected high whereas dropping to the targeted low would mean a gain of 35.23% for stock’s current value.

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 added 108.51% of value to its shares in past 6 months, showing an annual growth rate of 40.91% while that of industry is -4.10. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 14.30% in the current quarter and calculating 800.00% increase in the next quarter. This year revenue growth is estimated to rise 46.20% 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 $83.07 million for the same. And 11 analysts are in estimates of company making revenue of $88.57 million in the next quarter that will end on Dec 2022. Company posted $61.64 million and $48.05 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 34.80% while estimating it to be 84.30% 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 73.95%.

SHLS Dividends

Shoals Technologies Group Inc. is more likely to be releasing its next quarterly report between November 07 and November 11 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 110.52 percent of that, with stock having share float percentage of 112.14%. Investors also watch the number of corporate investors in a company very closely, which is 110.52% 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 15.63 million shares of worth $257.57 million. And as of Jun 29, 2022, it was holding 13.87% of the company’s outstanding shares.

The second largest institutional holder is Price (T.Rowe) Associates Inc, which was holding about 13.43 million shares on Jun 29, 2022. The number of shares represents firm’s hold over 11.92% of outstanding shares, having a total worth of $221.27 million.

On the other hand, Invesco ETF TR II-Invesco Solar ETF and iShares Global Clean Energy ETF are the top two Mutual Funds which own company’s shares. As of Sep 29, 2022, the former fund manager was holding 3.54 million shares of worth $76.18 million or 3.14% of the total outstanding shares. The later fund manager was in possession of 2.59 million shares on Sep 29, 2022, making its stake of worth around $55.8 million in the company or a holder of 2.30% of company’s stock.

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