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Shoals Technologies Group Inc. (SHLS) Volatility At 8.50%, Should You Add A Position?

Shoals Technologies Group Inc. (NASDAQ: SHLS) is -19.66% lower on its value in year-to-date trading and has touched a low of $9.58 and a high of $32.43 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The SHLS stock was last observed hovering at around $20.10 in the last trading session, with the day’s loss setting it -0.28% off its average median price target of $32.00 for the next 12 months. It is also 51.66% off the consensus price target high of $41.00 offered by 17 analysts, but current levels are 0.9% higher than the price target low of $20.00 for the same period.

Currently trading at $19.82, the stock is -18.28% and -22.30% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 7.4 million and changing -1.39% at the moment leaves the stock -14.35% off its SMA200. SHLS registered 8.84% gain for a year compared to 6-month gain of -22.00%.

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The stock witnessed a -24.67% loss in the last 1 month and extending the period to 3 months gives it a -22.55%, and is -14.57% down 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 8.50% over the week and 6.26% over the month.

Shoals Technologies Group Inc. (SHLS) has around 835 employees, a market worth around $3.57B and $326.90M in sales. Current P/E ratio is 41.99 and Fwd P/E is 20.73. Profit margin for the company is 39.00%. Distance from 52-week low is 106.89% and -38.88% from its 52-week high. The company has generated returns on investments over the last 12 months (10.80%).

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”. 17 analysts offering their recommendations for the stock have an average rating of 2.50, where 7 rate it as a Hold and 0 think it is a “Overweight”. 9 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Shoals Technologies Group Inc. is expected to release its quarterly report on 05/01/2023.The EPS is expected to grow by 54.10% this year

Shoals Technologies Group Inc. (SHLS) Top Institutional Holders

The shares outstanding are 120.30M, and float is at 112.12M with Short Float at 6.40%.

Shoals Technologies Group Inc. (SHLS) Insider Activity

A total of 30 insider transactions have happened at Shoals Technologies Group Inc. (SHLS) in the last six months, with sales accounting for 23 and purchases happening 7 times. The most recent transaction is an insider sale by TOLNAR JEFFERY, the company’s President. SEC filings show that TOLNAR JEFFERY sold 3,575 shares of the company’s common stock on Mar 15 at a price of $19.73 per share for a total of $70535.0. Following the sale, the insider now owns 66044.0 shares.

Shoals Technologies Group Inc. disclosed in a document filed with the SEC on Mar 14 that Whitaker Jason R () sold a total of 181,541 shares of the company’s common stock. The trade occurred on Mar 14 and was made at $21.16 per share for $3.84 million. Following the transaction, the insider now directly holds 0.63 million shares of the SHLS stock.

Still, SEC filings show that on Mar 14, Peetz Mehgan (General Counsel) disposed off 3,954 shares at an average price of $21.09 for $83390.0. The insider now directly holds 90,654 shares of Shoals Technologies Group Inc. (SHLS).

Shoals Technologies Group Inc. (SHLS): Who are the competitors?

The company’s main competitors (and peers) include Littelfuse Inc. (LFUS) that is trading 5.56% up over the past 12 months.

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