Shoals Technologies Group Inc (NASDAQ:SHLS) has a beta value of 1.70 and has seen 8.74 million shares traded in the last trading session. The company, currently valued at $820.17M, closed the last trade at $4.92 per share which meant it gained $0.75 on the day or 17.99% during that session. The SHLS stock price is -255.69% off its 52-week high price of $17.50 and 17.28% above the 52-week low of $4.07. If we look at the company’s 10-day average daily trading volume, we find that it stood at 3.97 million shares traded. The 3-month trading volume is 4.71 million shares.
The consensus among analysts is that Shoals Technologies Group Inc (SHLS) is Buy stock at the moment, with a recommendation rating of 1.67. 1 analysts rate the stock as a Sell, while 0 rate it as Overweight. 1 out of 9 have rated it as a Hold, with 7 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is 0.1.
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Shoals Technologies Group Inc (NASDAQ:SHLS) trade information
Sporting 17.99% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on recent trading when the SHLS stock price touched $4.92 or saw a rise of 2.38%. Year-to-date, Shoals Technologies Group Inc shares have moved -68.34%, while the 5-day performance has seen it change 5.58%. Over the past 30 days, the shares of Shoals Technologies Group Inc (NASDAQ:SHLS) have changed 7.89%. Short interest in the company has seen 18.21 million shares shorted with days to cover at 3.18.
Wall Street analysts have a consensus price target for the stock at $8, which means that the shares’ value could jump 38.5% from current levels. The projected low price target is $5.0 while the price target rests at a high of $12.0. In that case, then, we find that the current price level is -143.9% off the targeted high while a plunge would see the stock gain -1.63% from current levels.
Shoals Technologies Group Inc (SHLS) estimates and forecasts
Figures show that Shoals Technologies Group Inc shares have underperformed across the wider relevant industry. The company’s shares have lost -28.49% over the past 6 months, with this year growth rate of -46.15%, compared to -12.70% for the industry. Revenue growth from the last financial year stood is estimated to be -19.31%.
18 analysts offering their estimates for the company have set an average revenue estimate of 102.03M for the current quarter. 15 have an estimated revenue figure of 101.27M for the next ending quarter. Year-ago sales stood 130.44M and 90.81M respectively for this quarter and the next, and analysts expect sales will shrink by -21.78% for the current quarter and -19.31% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 19.43% over the past 5 years. Earnings growth for 2024 is a modest -45.23% while over the next 5 years, the company’s earnings are expected to increase by 9.50%.
SHLS Dividends
Shoals Technologies Group Inc is expected to release its next earnings report in January this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Shoals Technologies Group Inc (NASDAQ:SHLS)’s Major holders
Insiders own 3.08% of the company shares, while shares held by institutions stand at 110.71% with a share float percentage of 114.23%. Investors are also buoyed by the number of investors in a company, with Shoals Technologies Group Inc having a total of 365.0 institutions that hold shares in the company. The top two institutional holders are BLACKROCK INC. with over 23.13 million shares worth more than $144.31 million. As of 2024-06-30, BLACKROCK INC. held 13.6045% of shares outstanding.
The other major institutional holder is VANGUARD GROUP INC, with the holding of over 16.48 million shares as of 2024-06-30. The firm’s total holdings are worth over $102.81 million and represent 9.6926% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Explorer Fund, Inc. and Vanguard Total Stock Market Index Fund . As of Jul 31, 2024 , the former fund manager holds about 4.16% shares in the company for having 6.93 shares of worth $34.09 million while later fund manager owns 5.39 shares of worth $26.53 million as of Sep 30, 2024 , which makes it owner of about 3.23% of company’s outstanding stock.
