The stock of Shoals Technologies Group Inc (SHLS) has seen a 3.56% increase in the past week, with a -21.91% drop in the past month, and a -37.01% decrease in the past quarter. The volatility ratio for the week is 4.91%, and the volatility levels for the past 30 days are at 4.86% for SHLS. The simple moving average for the last 20 days is -7.06% for SHLS’s stock, with a simple moving average of -45.70% for the last 200 days.
Is It Worth Investing in Shoals Technologies Group Inc (NASDAQ: SHLS) Right Now?
Shoals Technologies Group Inc (NASDAQ: SHLS) has a price-to-earnings ratio that is above its average at 35.22x. The stock has a 36-month beta value of 1.85. Opinions on the stock are mixed, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for SHLS is 164.11M, and at present, short sellers hold a 13.32% of that float. On April 30, 2024, the average trading volume of SHLS was 4.04M shares.
SHLS) stock’s latest price update
Shoals Technologies Group Inc (NASDAQ: SHLS) has experienced a rise in its stock price by 2.46 compared to its previous closing price of 8.52. However, the company has seen a gain of 3.56% in its stock price over the last five trading days. GlobeNewsWire reported 2024-04-23 that PORTLAND, Tenn., April 23, 2024 (GLOBE NEWSWIRE) — Shoals Technologies Group, Inc. (the “Company”) (Nasdaq: SHLS) today announced that the Company will release its first quarter 2024 results after market close on Tuesday, May 7, 2024, to be followed by a conference call at 5:00 p.m. (Eastern Time) on the same day.
Analysts’ Opinion of SHLS
Many brokerage firms have already submitted their reports for SHLS stocks, with TD Cowen repeating the rating for SHLS by listing it as a “Outperform.” The predicted price for SHLS in the upcoming period, according to TD Cowen is $22 based on the research report published on February 29, 2024 of the current year 2024.
RBC Capital Mkts, on the other hand, stated in their research note that they expect to see SHLS reach a price target of $20. The rating they have provided for SHLS stocks is “Outperform” according to the report published on February 14th, 2024.
Barclays gave a rating of “Equal Weight” to SHLS, setting the target price at $15 in the report published on January 22nd of the current year.
SHLS Trading at -25.34% 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 -69.20% of loss for the given period.
Volatility was left at 4.86%, however, over the last 30 days, the volatility rate increased by 4.91%, as shares sank -23.29% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -47.03% lower at present.
During the last 5 trading sessions, SHLS rose by +3.56%, which changed the moving average for the period of 200-days by -66.36% in comparison to the 20-day moving average, which settled at $9.26. In addition, Shoals Technologies Group Inc saw -43.82% 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 Peetz Mehgan, who sale 3,160 shares at the price of $13.04 back on Mar 08 ’24. After this action, Peetz Mehgan now owns 105,201 shares of Shoals Technologies Group Inc, valued at $41,206 using the latest closing price.
TOLNAR JEFFERY, the President of Shoals Technologies Group Inc, sale 2,750 shares at $13.04 during a trade that took place back on Mar 08 ’24, which means that TOLNAR JEFFERY is holding 96,391 shares at $35,860 based on the most recent closing price.
Stock Fundamentals for SHLS
Current profitability levels for the company are sitting at:
- 0.16 for the present operating margin
- 0.34 for the gross margin
The net margin for Shoals Technologies Group Inc stands at 0.08. The total capital return value is set at 0.1. Equity return is now at value 9.56, with 5.51 for asset returns.
Based on Shoals Technologies Group Inc (SHLS), the company’s capital structure generated 0.25 points at debt to capital in total, while cash flow to debt ratio is standing at 0.5. The debt to equity ratio resting at 0.34. The interest coverage ratio of the stock is 3.28.
Currently, EBITDA for the company is 89.56 million with net debt to EBITDA at 1.81. When we switch over and look at the enterprise to sales, we see a ratio of 3.37. The receivables turnover for the company is 3.32for trailing twelve months and the total asset turnover is 0.57. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.45.
Conclusion
To sum up, Shoals Technologies Group Inc (SHLS) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as 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.
