In the last trading session, 5.54 million shares of the Shoals Technologies Group Inc (NASDAQ:SHLS) were traded, and its beta was 1.68. Most recently the company’s share price was $4.15, and it changed around -$0.11 or -2.58% from the last close, which brings the market valuation of the company to $691.80M. SHLS currently trades at a discount to its 52-week high of $17.50, offering almost -321.69% off that amount. The share price’s 52-week low was $4.22, which indicates that the current value has fallen by an impressive -1.69% since then. We note from Shoals Technologies Group Inc’s average daily trading volume that its 10-day average is 6.99 million shares, with the 3-month average coming to 5.12 million.
Shoals Technologies Group Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.86. If we narrow it down even further, the data shows that 1 out of 25 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 9 recommended SHLS as a Hold, whereas 10 deemed it a Buy, and 1 rated it as Underweight. Shoals Technologies Group Inc is expected to report earnings per share of 0.1 for the current quarter.
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Shoals Technologies Group Inc (NASDAQ:SHLS) trade information
Instantly SHLS has showed a red trend with a performance of -2.58% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 5.36 on recent trading dayincreased the stock’s daily price by 22.57%. The company’s shares are currently down -73.29% year-to-date, but still down -14.43% over the last five days. On the other hand, Shoals Technologies Group Inc (NASDAQ:SHLS) is -17.82% down in the 30-day period. We can see from the shorts that 19.39 million shares have been sold at a short interest cover period of 4.86 day(s).
The consensus price target as assigned by Wall Street analysts is $9, which translates to bulls needing to increase their stock price by 53.89% from its current value. Analyst projections state that SHLS is forecast to be at a low of $5 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 -38.97 percent over the past six months and at a -44.62% annual growth rate that is well below the industry average of -18.70%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -19.18% in revenue this quarter, and will report an increase of 30.74% in the next quarter. The year-over-year growth rate is expected to be -19.31%, down from the previous year.
Consensus estimates provided by 15 financial analysts predict the company will bring in an average of 102.28M in revenue for the current quarter. 14 analysts expect Shoals Technologies Group Inc to make 101.58M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 130.44M and 90.81M respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -21.59%. Forecasts for the next quarter put sales growth at 11.86%.
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 -46.20% in 2024, but the outlook is positive 20.50% per year for the next five years.
SHLS Dividends
Shoals Technologies Group Inc’s next quarterly earnings report is expected to be released in December.
Shoals Technologies Group Inc (NASDAQ:SHLS)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 3.06% of Shoals Technologies Group Inc shares, and 111.16% of them are in the hands of institutional investors. The stock currently has a share float of 114.67%. Shoals Technologies Group Inc stock is held by 370.0 institutions, with BLACKROCK INC. being the largest institutional investor. By 2024-06-30, it held 13.6045% of the shares, which is about 23.13 million shares worth $144.31 million.
VANGUARD GROUP INC, with 9.6926% or 16.48 million shares worth $102.81 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
