In the last trading session, 7.13 million shares of the Shoals Technologies Group Inc (NASDAQ:SHLS) were traded, and its beta was 1.80. Most recently the company’s share price was $11.18, and it changed around -$0.58 or -4.93% from the last close, which brings the market valuation of the company to $1.90B. SHLS currently trades at a discount to its 52-week high of $28.34, offering almost -153.49% off that amount. The share price’s 52-week low was $11.11, which indicates that the current value has risen by an impressive 0.63% since then. We note from Shoals Technologies Group Inc’s average daily trading volume that its 10-day average is 3.78 million shares, with the 3-month average coming to 3.62 million.
Shoals Technologies Group Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.52. If we narrow it down even further, the data shows that 0 out of 19 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 3 recommended SHLS as a Hold, whereas 12 deemed it a Buy, and 0 rated it as Underweight. Shoals Technologies Group Inc is expected to report earnings per share of $0.06 for the current quarter.
Shoals Technologies Group Inc (NASDAQ:SHLS) trade information
Instantly SHLS has showed a red trend with a performance of -4.93% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -28.06% year-to-date, but still down -12.04% over the last five days. On the other hand, Shoals Technologies Group Inc (NASDAQ:SHLS) is -27.36% down in the 30-day period. We can see from the shorts that 25.25 million shares have been sold at a short interest cover period of 6.22 day(s).
The consensus price target as assigned by Wall Street analysts is $27.88, which translates to bulls needing to increase their stock price by 59.9% from its current value. Analyst projections state that SHLS is forecast to be at a low of $15 and a high of $37.
Shoals Technologies Group Inc (SHLS) estimates and forecasts
Shoals Technologies Group Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -43.08 percent over the past six months and at a -7.69% annual growth rate that is well below the industry average of 8.00%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -57.10% in revenue this quarter, and will report a decrease of -21.40% in the next quarter. The year-over-year growth rate is expected to be 3.60%, up from the previous year.
Consensus estimates provided by 16 financial analysts predict the company will bring in an average of $97.69 million in revenue for the current quarter. 16 analysts expect Shoals Technologies Group Inc to make $111.94 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $105.09 million and $115.39 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -7.00%. Forecasts for the next quarter put sales growth at -3.00%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 19.43%. Shoals Technologies Group Inc earnings are expected to increase by -7.46% in 2024, but the outlook is positive 15.40% per year for the next five years.
SHLS Dividends
Shoals Technologies Group Inc’s next quarterly earnings report is expected to be released around May 06 and May 10.
Shoals Technologies Group Inc (NASDAQ:SHLS)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 2.72% of Shoals Technologies Group Inc shares, and 123.99% of them are in the hands of institutional investors. The stock currently has a share float of 127.45%. Shoals Technologies Group Inc stock is held by 436 institutions, with Blackrock Inc. being the largest institutional investor. By Dec 30, 2023, it held 12.64% of the shares, which is about 21.54 million shares worth $240.83 million.
Vanguard Group Inc, with 9.60% or 16.36 million shares worth $182.91 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.
Vanguard Explorer Fund, Inc. and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Oct 30, 2023. The former held 6.57 million shares worth $73.43 million, making up 3.85% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 5.34 million shares worth around $59.73 million, which represents about 3.13% of the total shares outstanding.
