Shoals Technologies Group Inc. (NASDAQ: SHLS)’s stock price has decreased by -1.39 compared to its previous closing price of 20.10. however, the company has experienced a -14.57% decrease in its stock price over the last five trading days. Barron’s reported on 03/01/23 that The Solar Market Is Heating Up. It’s Great for This Stock.
Is It Worth Investing in Shoals Technologies Group Inc. (NASDAQ: SHLS) Right Now?
Shoals Technologies Group Inc. (NASDAQ: SHLS) has a higher price-to-earnings ratio of 41.99x compared to its average ratio, Analysts have varying views on the stock, with 9 analysts rating it as a “buy,” 0 rating it as “overweight,” 7 as “hold,” and 1 as “sell.”
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The average price suggested by analysts for SHLS is $31.60, which is $11.56 above the current market price. The public float for SHLS is 112.12M, and currently, shorts hold a 6.40% of that float. The average trading volume for SHLS on March 17, 2023 was 2.94M shares.
SHLS’s Market Performance
SHLS’s stock has seen a -14.57% decrease for the week, with a -24.67% drop in the past month and a -22.55% fall in the past quarter. The volatility ratio for the week is 8.50%, and the volatility levels for the past 30 days are at 6.26% for Shoals Technologies Group Inc. The simple moving average for the last 20 days is -18.28% for SHLS stock, with a simple moving average of -14.35% for the last 200 days.
Analysts’ Opinion of SHLS
Many brokerage firms have already submitted their reports for SHLS stocks, with Citigroup repeating the rating for SHLS by listing it as a “Buy.” The predicted price for SHLS in the upcoming period, according to Citigroup is $34 based on the research report published on March 10th of the current year 2023.
Northland Capital, on the other hand, stated in their research note that they expect to see SHLS reach a price target of $27, previously predicting the price at $30. The rating they have provided for SHLS stocks is “Market Perform” according to the report published on March 01st, 2023.
Cantor Fitzgerald gave a rating of “Neutral” to SHLS, setting the target price at $30 in the report published on January 25th of the current year.
SHLS Trading at -22.30% from the 50-Day Moving Average
After a stumble in the market that brought SHLS to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -38.88% of loss for the given period.
Volatility was left at 6.26%, however, over the last 30 days, the volatility rate increased by 8.50%, as shares sank -29.39% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -17.21% lower at present.
During the last 5 trading sessions, SHLS fell by -14.57%, which changed the moving average for the period of 200-days by +25.05% in comparison to the 20-day moving average, which settled at $23.84. In addition, Shoals Technologies Group Inc. saw -19.66% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at SHLS starting from TOLNAR JEFFERY, who sale 3,575 shares at the price of $19.73 back on Mar 15. After this action, TOLNAR JEFFERY now owns 66,044 shares of Shoals Technologies Group Inc., valued at $70,535 using the latest closing price.
Whitaker Jason R, the of Shoals Technologies Group Inc., sale 181,541 shares at $21.16 during a trade that took place back on Mar 14, which means that Whitaker Jason R is holding 634,637 shares at $3,841,408 based on the most recent closing price.
Stock Fundamentals for SHLS
Current profitability levels for the company are sitting at:
- +20.30 for the present operating margin
- +37.27 for the gross margin
The net margin for Shoals Technologies Group Inc. stands at +39.03. Equity return is now at value 149.80, with 24.40 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 2.92.
Conclusion
In conclusion, Shoals Technologies Group Inc. (SHLS) has had a bad performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
