Shoals Technologies Group Inc (NASDAQ:SHLS)’s traded shares stood at 2.9 million during the last session, with the company’s beta value hitting 1.74. At the close of trading, the stock’s price was $5.19, to imply an increase of 1.37% or $0.07 in intraday trading. The SHLS share’s 52-week high remains $17.50, putting it -237.19% down since that peak but still an impressive 6.55% since price per share fell to its 52-week low of $4.85. The company has a valuation of $864.91M, with an average of 3.98 million shares in intraday trading volume over the past 10 days and average of 5.18 million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for Shoals Technologies Group Inc (SHLS), translating to a mean rating of 1.86. Of 9 analyst(s) looking at the stock, 1 analyst(s) give SHLS a Sell rating. 0 of those analysts rate the stock as Overweight while 1 advise Hold as 7 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at 0.1.
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Shoals Technologies Group Inc (NASDAQ:SHLS) trade information
After registering a 1.37% upside in the last session, Shoals Technologies Group Inc (SHLS) has traded red over the past five days. The 5-day price performance for the stock is 2.77%, and -8.95% over 30 days. With these gigs, the year-to-date price performance is -66.60%. Short interest in Shoals Technologies Group Inc (NASDAQ:SHLS) saw shorts transact 16.72 million shares and set a 2.6 days time to cover.
The extremes give us $5 and $37 for target low and target high price respectively. As such, SHLS has been trading -612.91% off suggested target high and 3.66% from its likely low.
Shoals Technologies Group Inc (SHLS) estimates and forecasts
Looking at statistics comparing Shoals Technologies Group Inc share performance against respective industry, we note that the company has underperformed competitors. Shoals Technologies Group Inc (SHLS) shares are -39.08% down over the last 6 months, with its year-to-date growth rate lower than industry average at -43.08% against -15.60%. Revenue is forecast to shrink -50.00% this quarter before falling -25.00% for the next one. The rating firms project that company’s revenue will shrink -20.50% compared to the previous financial year.
Revenue forecast for the current quarter as set by 18 analysts is 101.31M. Meanwhile, for the current quarter, a total of 18 analyst(s) estimate revenue growth to 98.19M.Earnings reports from the last fiscal year show that sales brought in 134.21M and 130.44M respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -24.50% before dropping -24.70% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 19.43% for the past 5-year period. While 2024 is set for a -43.20% return in earnings, projections for the next 5 years are at 17.00% annually.
SHLS Dividends
Shoals Technologies Group Inc has its next earnings report out on 2024-Nov-12. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too.
Shoals Technologies Group Inc (NASDAQ:SHLS)’s Major holders
Shoals Technologies Group Inc insiders hold 3.07% of total outstanding shares, with institutional holders owning 124.63% of the shares at 128.57% float percentage. In total, 124.63% institutions holds shares in the company, led by BLACKROCK INC.. As of 2024-06-30, the company held over 23.13 million shares (or 13.6045% of shares), all amounting to roughly $144.31 million.
The next major institution holding the largest number of shares is VANGUARD GROUP INC with 16.48 million shares, or about 9.6926% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $102.81 million.
We also have Vanguard Explorer Fund, Inc. and Vanguard Total Stock Market Index Fund as the top two Mutual Funds with the largest holdings of the Shoals Technologies Group Inc (SHLS) shares. Going by data provided on Jul 31, 2024 , Vanguard Explorer Fund, Inc. holds roughly 6.93 shares. This is just over 4.16% of the total shares, with a market valuation of $35.96 million. Data from the same date shows that the other fund manager holds a little less at 5.29, or 3.17% of the shares, all valued at about 27.45 million.
