During the recent session, Shoals Technologies Group Inc (NASDAQ:SHLS)’s traded shares were 0.77 million, with the beta value of the company hitting 1.73. At the last check today, the stock’s price was $5.45, reflecting an intraday gain of 0.79% or $0.04. The 52-week high for the SHLS share is $17.50, that puts it down -221.1 from that peak though still a striking 11.01% gain since the share price plummeted to a 52-week low of $4.85. The company’s market capitalization is $908.64M, and the average intraday trading volume over the past 10 days was 3.71 million shares, and the average trade volume was 5.18 million shares over the past three months.
Shoals Technologies Group Inc (SHLS) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.86. SHLS has a Sell rating from 1 analyst(s) out of 9 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 7 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be 0.1.
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Shoals Technologies Group Inc (NASDAQ:SHLS) trade information
Shoals Technologies Group Inc (SHLS) registered a 0.79% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 0.79% in intraday trading to $5.45, hitting a weekly high. The stock’s 5-day price performance is 5.06%, and it has moved by 7.12% in 30 days. Based on these gigs, the overall price performance for the year is -62.27%. The short interest in Shoals Technologies Group Inc (NASDAQ:SHLS) is 16.71 million shares and it means that shorts have 3.85 day(s) to cover.
The consensus price target of analysts on Wall Street is $11, which implies an increase of 50.45% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $5 and $37 respectively. As a result, SHLS is trading at a discount of -578.9% off the target high and 8.26% off the low.
Shoals Technologies Group Inc (SHLS) estimates and forecasts
Statistics show that Shoals Technologies Group Inc has underperformed its competitors in share price, compared to the industry in which it operates. Shoals Technologies Group Inc (SHLS) shares have gone down -39.42% during the last six months, with a year-to-date growth rate less than the industry average at -43.08% against -17.60. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -50.00% this quarter and then drop -25.00% in the quarter after that. In the rating firms’ projections, revenue will decrease -21.50% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 98.7M as predicted by 18 analyst(s). Meanwhile, a consensus of 18 analyst(s) estimates revenue growth to 94.65M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 134.21M and 130.44M respectively. In this case, analysts expect current quarter sales to shrink by -26.50% and then drop by -27.40% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 19.43%. While earnings are projected to return -43.60% in 2024, the next five years will return 17.00% per annum.
SHLS Dividends
Shoals Technologies Group Inc is due to release its next quarterly earnings on 2024-Nov-12. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Shoals Technologies Group Inc (NASDAQ:SHLS)’s Major holders
Shoals Technologies Group Inc insiders own 3.07% of total outstanding shares while institutional holders control 125.08%, with the float percentage being 129.04%. BLACKROCK INC. is the largest shareholder of the company, while 381.0 institutions own stock in it. As of 2024-06-30, the company held over 23.13 million shares (or 13.6045% of all shares), a total value of $144.31 million in shares.
The next largest institutional holding, with 16.48 million shares, is of VANGUARD GROUP INC’s that is approximately 9.6926% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $102.81 million.
