Shoals Technologies Group Inc. (NASDAQ: SHLS) is 10.85% higher on its value in year-to-date trading and has touched a low of $28.17 and a high of $44.04 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The SHLS stock was last observed hovering at around $35.55 in the last trading session, with the day’s loss setting it -1.21% off its average median price target of $42.00 for the next 12 months. It is also 28.46% off the consensus price target high of $48.00 offered by 11 analysts, but current levels are -7.31% lower than the price target low of $32.00 for the same period.
Currently trading at $34.34, the stock is 1.01% and -0.43% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.68 million and changing -3.40% at the moment leaves the stock -1.91% off its SMA200. The firm has a 50-day simple moving average (SMA 50) of $33.66 and a 200-day simple moving average (SMA200) of $35.08.
The stock witnessed a 12.92% In the last 1 month and extending the period to 3 months gives it a 10.85%, and is 1.27% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.81% over the week and 5.71% over the month.
Shoals Technologies Group Inc. (SHLS) has around 504 employees, a market worth around $5.60B and $175.50M in sales. Current P/E ratio is 169.16 and Fwd P/E is 65.29. Profit margin for the company is 19.20%. Distance from 52-week low is 21.90% and -22.03% from its 52-week high. The company has generated returns on investments over the last 12 months (21.30%).
Shoals Technologies Group Inc. (SHLS) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Shoals Technologies Group Inc. (SHLS) is a “Overweight”. 11 analysts offering their recommendations for the stock have an average rating of 2.30, where 5 rate it as a Hold and 0 think it is a “Overweight”. 6 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Shoals Technologies Group Inc. is expected to release its quarterly report on 09/01/2021 and quarterly earnings per share for the current quarter are estimated at $0.04 with sales reaching $43.47M over the same period.The EPS is expected to grow by 39.90% this year, but quarterly earnings will post 34.30% year-over-year.
Shoals Technologies Group Inc. (SHLS) Top Institutional Holders
58 institutions hold shares in Shoals Technologies Group Inc. (SHLS), with 803.04k shares held by insiders accounting for 0.48% while institutional investors hold 64.23% of the company’s shares. The shares outstanding are 162.95M, and float is at 90.54M with Short Float at 5.92%. Institutions hold 63.92% of the Float.
The top institutional shareholder in the company is Viking Fund Management, LLC with over 25000.0 shares valued at $0.87 million. The investor’s holdings represent 0.03% of the SHLS Shares outstanding. As of Mar 30, 2021, the second largest holder is Janney Montgomery Scott LLC with 7942.0 shares valued at $0.28 million to account for 0.01% of the shares outstanding.
Shoals Technologies Group Inc. (SHLS) Insider Activity
A total of 6 insider transactions have happened at Shoals Technologies Group Inc. (SHLS) in the last six months, with sales accounting for 3 and purchases happening 3 times.