In the latest trading session, 0.92 million Shoals Technologies Group Inc (NASDAQ:SHLS) shares changed hands as the company’s beta touched 1.34. With the company’s most recent per share price at $3.38 changing hands around $0.0 or -0.15% at last look, the market valuation stands at $564.16M. SHLS’s current price is a discount, trading about -219.23% off its 52-week high of $10.79. The share price had its 52-week low at $2.71, which suggests the last value was 19.82% up since then. When we look at Shoals Technologies Group Inc’s average trading volume, we note the 10-day average is 5.24 million shares, with the 3-month average coming to 6.58 million.
Analysts gave the Shoals Technologies Group Inc (SHLS) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.70. 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 0.04.
Shoals Technologies Group Inc (NASDAQ:SHLS) trade information
Instantly SHLS was in red as seen in intraday trades today. With action 3.53%, the performance over the past five days has been green. The company’s shares are showing year-to-date downside of -38.97%, with the 5-day performance at 3.53% in the green. However, in the 30-day time frame, Shoals Technologies Group Inc (NASDAQ:SHLS) is 19.05% up. Looking at the short shares, we see there were 15.35 million shares sold at short interest cover period of 2.04 days.
The consensus price target for the stock as assigned by Wall Street analysts is 7.5, meaning bulls need an upside of 54.93% from its recent market value. According to analyst projections, SHLS’s forecast low is 5 with 9 as the target high. To hit the forecast high, the stock’s price needs a -166.27% plunge from its current level, while the stock would need to soar -47.93% for it to hit the projected low.
Shoals Technologies Group Inc (SHLS) estimates and forecasts
Year-over-year growth is forecast to reach 7.42% up from the last financial year.
Consensus estimates given by 17 financial analysts project the company’s revenue in the current quarter to hit an average of 74.65M. 17 analysts are of the opinion that Shoals Technologies Group Inc’s revenue for the current quarter will be 95.99M. The company’s revenue for the corresponding quarters a year ago was 90.81M and 99.25M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -17.79%. The estimates for the next quarter sales put growth at -3.28%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -12.58%. The 2025 estimates are for Shoals Technologies Group Inc earnings to increase by 11.12%, but the outlook for the next 5-year period is at 16.47% per year.
Shoals Technologies Group Inc (NASDAQ:SHLS)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.66% of Shoals Technologies Group Inc shares while 113.69% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 114.44%. There are 113.69% 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.
Among Mutual Funds, the top two as of Dec 31, 2024 were VANGUARD INDEX FUNDS-Vanguard Total Stock Market Index Fund and Invesco Exchange-Traded Fund Trust II-Invesco Solar ETF. With 5.36 shares estimated at $17.94 million under it, the former controlled 3.21% of total outstanding shares. On the other hand, Invesco Exchange-Traded Fund Trust II-Invesco Solar ETF held about 2.91% of the shares, roughly 4.87 shares worth around $16.28 million.
