Shoals Technologies Group Inc (NASDAQ:SHLS) price on Tuesday, December 24, fall -1.46% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $5.39.
A look at the stock’s price movement, the close in the last trading session was $5.47, moving within a range at $5.215 and $5.44. The beta value (5-Year monthly) was 1.731 while the PE ratio in trailing twelve months stood at 27.90. Turning to its 52-week performance, $17.50 and $4.07 were the 52-week high and 52-week low respectively. Overall, SHLS moved 10.77% over the past month.
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Shoals Technologies Group Inc’s market cap currently stands at around $885.37 million, with investors looking forward to this quarter’s earnings report slated for in January.
Turning to the stock’s technical picture we see that short term indicators suggest on average that SHLS is a 50% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
9 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 7 recommend SHLS as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
The technical evaluation for the stock shows the PEG ratio is 2.94, with SHLS’s current price about 11.64% and 7.45% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 57.73, while 7-day volatility ratio is 8.79% and 7.12% in the 30-day chart. Further, Shoals Technologies Group Inc (SHLS) has a beta value of 1.67, and an average true range (ATR) of 0.38. Analysts have given the company’s stock an average 52-week price target of $8, forecast between a low of $5 and high of $12. Looking at the price targets, the low is 7.24% off current price level while to achieve the yearly target high, price needs to move -122.63%. Nonetheless, investors will most likely welcome a -48.42% jump to $8 which is the analysts’ median price.
If we refocus on Shoals Technologies Group Inc (NASDAQ:SHLS), historical trading data shows that trading volumes averaged 4.81 over the past 10 days and 4.85 million over the past 3 months. The company’s latest data on shares outstanding shows there are 166.70 million shares.
The 0.95% of Shoals Technologies Group Inc’s shares are in the hands of company insiders while institutional holders own 104.95% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 18.21 million on 2024-11-29, giving us a short ratio of 3.18. The data shows that as of 2024-11-29 short interest in Shoals Technologies Group Inc (SHLS) stood at 1259.0000000000002 of shares outstanding, with shares short falling to 19.39 million registered in 2024-10-31. Current price change has pushed the stock -65.57% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the SHLS stock continues to rise going into the next quarter.
