In the last trading session, 7.63 million Shoals Technologies Group Inc (NASDAQ:SHLS) shares changed hands as the company’s beta touched 1.73. With the company’s per share price at $5.05 changed hands at $0.0 or 0.00% during last session, the market valuation stood at $841.58M. SHLS’s last price was a discount, traded about -246.53% off its 52-week high of $17.50. The share price had its 52-week low at $4.85, which suggests the last value was 3.96% up since then. When we look at Shoals Technologies Group Inc’s average trading volume, we note the 10-day average is 4.47 million shares, with the 3-month average coming to 5.22 million.
Analysts gave the Shoals Technologies Group Inc (SHLS) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.86. If we narrow down to specifics, the data shows that 1 out of 9 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended SHLS as a Hold, 7 felt it is a Buy and 0 rated the stock as Underweight. Shoals Technologies Group Inc’s EPS for the current quarter is expected to be 0.1.
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Shoals Technologies Group Inc (NASDAQ:SHLS) trade information
The company’s shares are showing year-to-date downside of -67.50%, with the 5-day performance at -3.44% in the red. However, in the 30-day time frame, Shoals Technologies Group Inc (NASDAQ:SHLS) is -17.62% down. Looking at the short shares, we see there were 16.72 million shares sold at short interest cover period of 2.6 days.
The consensus price target for the stock as assigned by Wall Street analysts is 11, meaning bulls need an upside of 54.09% from its current market value. According to analyst projections, SHLS’s forecast low is 5 with 37 as the target high. To hit the forecast high, the stock’s price needs a -632.67% plunge from its current level, while the stock would need to tank 0.99% for it to hit the projected low.
Shoals Technologies Group Inc (SHLS) estimates and forecasts
Data shows that the Shoals Technologies Group Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -40.09% over the past 6 months, a -43.08% in annual growth rate that is considerably lower than the industry average of -15.60%. Year-over-year growth is forecast to reach -20.50% down from the last financial year.
Consensus estimates given by 18 financial analysts project the company’s revenue in the current quarter to hit an average of 101.31M. 18 analysts are of the opinion that Shoals Technologies Group Inc’s revenue for the current quarter will be 98.19M. The company’s revenue for the corresponding quarters a year ago was 134.21M and 130.44M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -24.50%. The estimates for the next quarter sales put growth at -24.70%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 19.43%. The 2024 estimates are for Shoals Technologies Group Inc earnings to decrease by -42.18%, but the outlook for the next 5-year period is at 17.00% per year.
SHLS Dividends
Shoals Technologies Group Inc is expected to release its next quarterly earnings report in November.
Shoals Technologies Group Inc (NASDAQ:SHLS)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 3.07% of Shoals Technologies Group Inc shares while 119.95% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 123.75%. There are 119.95% institutions holding the Shoals Technologies Group Inc stock share, with BLACKROCK INC. the top institutional holder. As of 2024-06-30, the company held 13.6045% of the shares, roughly 23.13 million SHLS shares worth $144.31 million.
VANGUARD GROUP INC holds the second largest percentage of outstanding shares, with 9.6926% or 16.48 million shares worth $102.81 million as of 2024-06-30.
