Shoals Technologies Group Inc (NASDAQ: SHLS)’s stock price has decreased by -2.36 compared to its previous closing price of 5.29. However, the company has seen a -10.95% decrease in its stock price over the last five trading sessions. zacks.com reported 2024-08-09 that Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Is It Worth Investing in Shoals Technologies Group Inc (NASDAQ: SHLS) Right Now?
The price-to-earnings ratio for Shoals Technologies Group Inc (NASDAQ: SHLS) is 37.73x, which is above its average ratio. Moreover, the 36-month beta value for SHLS is 1.79. Analysts have varying opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for SHLS is 165.47M and currently, short sellers hold a 15.55% of that float. On August 09, 2024, SHLS’s average trading volume was 6.25M shares.
SHLS’s Market Performance
SHLS’s stock has seen a -10.95% decrease for the week, with a -19.42% drop in the past month and a -32.70% fall in the past quarter. The volatility ratio for the week is 11.75%, and the volatility levels for the past 30 days are at 7.01% for Shoals Technologies Group Inc The simple moving average for the past 20 days is -18.71% for SHLS’s stock, with a -53.69% simple moving average for the past 200 days.
Analysts’ Opinion of SHLS
Many brokerage firms have already submitted their reports for SHLS stocks, with Exane BNP Paribas repeating the rating for SHLS by listing it as a “Neutral.” The predicted price for SHLS in the upcoming period, according to Exane BNP Paribas is $7 based on the research report published on August 07, 2024 of the current year 2024.
Citigroup, on the other hand, stated in their research note that they expect to see SHLS reach a price target of $5, previously predicting the price at $15. The rating they have provided for SHLS stocks is “Sell” according to the report published on July 02nd, 2024.
TD Cowen gave a rating of “Buy” to SHLS, setting the target price at $11 in the report published on May 08th of the current year.
SHLS Trading at -21.49% 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 -76.96% of loss for the given period.
Volatility was left at 7.01%, however, over the last 30 days, the volatility rate increased by 11.75%, as shares sank -24.82% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -37.70% lower at present.
During the last 5 trading sessions, SHLS fell by -10.95%, which changed the moving average for the period of 200-days by -66.85% in comparison to the 20-day moving average, which settled at $6.27. In addition, Shoals Technologies Group Inc saw -66.76% 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:
- 0.11 for the present operating margin
- 0.31 for the gross margin
The net margin for Shoals Technologies Group Inc stands at 0.05. The total capital return value is set at 0.07. Equity return is now at value 4.34, with 2.90 for asset returns.
Based on Shoals Technologies Group Inc (SHLS), the company’s capital structure generated 0.21 points at debt to capital in total, while cash flow to debt ratio is standing at 0.71. The debt to equity ratio resting at 0.27. The interest coverage ratio of the stock is 3.99.
Currently, EBITDA for the company is 89.56 million with net debt to EBITDA at 2.28. When we switch over and look at the enterprise to sales, we see a ratio of 2.23. The receivables turnover for the company is 4.16for trailing twelve months and the total asset turnover is 0.58. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.26.
Conclusion
To wrap up, the performance of Shoals Technologies Group Inc (SHLS) has been bad in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. 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.
