Shoals Technologies Group Inc (NASDAQ: SHLS)’s stock price has gone rise by 7.39 in comparison to its previous close of 5.55, however, the company has experienced a 11.19% increase in its stock price over the last five trading days. accesswire.com reported 2024-11-04 that NEW YORK, NY / ACCESSWIRE / November 4, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of Shoals Technologies Group, Inc. (“Shoals Technologies Group, Inc.”) (NASDAQ:SHLS) concerning possible violations of federal securities laws. The investigation concerns whether Shoals and certain of its directors and/or officers failed to disclose to shareholders that: (i) certain of the Company’s products used for solar power generation were not of the highest levels of quality and reliability as Shoals claimed; (ii) the Company received numerous reports of defects in wire harnesses it had installed in a number of solar fields; and (iii) it would cost Shoals millions of dollars to remediate the defects with its products.
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 43.54x. The stock has a 36-month beta value of 1.73. Opinions on the stock are mixed, with 10 analysts rating it as a “buy,” 3 as “overweight,” 5 as “hold,” and 1 as “sell.”
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The public float for SHLS is 165.09M, and at present, short sellers hold a 10.12% of that float. On November 05, 2024, the average trading volume of SHLS was 5.19M shares.
SHLS’s Market Performance
SHLS’s stock has seen a 11.19% increase for the week, with a 16.18% rise in the past month and a 8.36% gain in the past quarter. The volatility ratio for the week is 5.63%, and the volatility levels for the past 30 days are at 5.37% for Shoals Technologies Group Inc The simple moving average for the past 20 days is 14.40% for SHLS’s stock, with a -28.80% simple moving average for the past 200 days.
Analysts’ Opinion of SHLS
Many brokerage firms have already submitted their reports for SHLS stocks, with Wells Fargo repeating the rating for SHLS by listing it as a “Equal Weight.” The predicted price for SHLS in the upcoming period, according to Wells Fargo is $46 based on the research report published on October 14, 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 $5.50, previously predicting the price at $5. The rating they have provided for SHLS stocks is “Neutral” according to the report published on October 03rd, 2024.
Jefferies gave a rating of “Hold” to SHLS, setting the target price at $5 in the report published on September 04th of the current year.
SHLS Trading at 7.10% 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 -65.93% of loss for the given period.
Volatility was left at 5.37%, however, over the last 30 days, the volatility rate increased by 5.63%, as shares surge +16.86% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +9.36% upper at present.
During the last 5 trading sessions, SHLS rose by +11.19%, which changed the moving average for the period of 200-days by -54.78% in comparison to the 20-day moving average, which settled at $5.21. In addition, Shoals Technologies Group Inc saw -61.65% 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 2,110 shares at the price of $6.34 back on Sep 16 ’24. After this action, TOLNAR JEFFERY now owns 125,761 shares of Shoals Technologies Group Inc, valued at $13,377 using the latest closing price.
Lund Inez, the Chief Accounting Officer of Shoals Technologies Group Inc, sale 350 shares at $6.33 during a trade that took place back on Sep 16 ’24, which means that Lund Inez is holding 37,675 shares at $2,216 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 2.71.
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 2.5. 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 sum up, Shoals Technologies Group Inc (SHLS) has seen a mixed 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.
