Shoals Technologies Group Inc (NASDAQ:SHLS) price on Wednesday, February 05, fall -1.51% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $4.57.
A look at the stock’s price movement, the close in the last trading session was $4.64, moving within a range at $4.555 and $4.79. The beta value (5-Year monthly) was 1.731 while the PE ratio in trailing twelve months stood at 23.65. Turning to its 52-week performance, $17.50 and $4.07 were the 52-week high and 52-week low respectively. Overall, SHLS moved -22.93% over the past month.
Shoals Technologies Group Inc’s market cap currently stands at around $761.81 million, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 102.17M for the company’s revenue for the quarter, with a low and high estimate of 97.7M and 105.1M respectively. The average forecast suggests down to a -21.67% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 394.63M, representing a -19.29% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that SHLS is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% 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.
SHLS’s current price about -7.30% and -8.49% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 43.41, while 7-day volatility ratio is 5.81% and 6.97% in the 30-day chart. Further, Shoals Technologies Group Inc (SHLS) has a beta value of 1.61, and an average true range (ATR) of 0.34. 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 -9.41% off current price level while to achieve the yearly target high, price needs to move -162.58%. Nonetheless, investors will most likely welcome a -75.05% 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 6.46 over the past 10 days and 5.97 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 106.42% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 17.98 million on 2025-01-15, giving us a short ratio of 2.84. The data shows that as of 2025-01-15 short interest in Shoals Technologies Group Inc (SHLS) stood at 1243.0 of shares outstanding, with shares short rising to 17.34 million registered in 2024-12-13. Current price change has pushed the stock -17.36% 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.
