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Why Shoals Technologies Group Inc (SHLS) Stock Could See Much Higher Prices Ahead

Shoals Technologies Group Inc (NASDAQ: SHLS) is -26.77% lower on its value in year-to-date trading and has touched a low of $11.00 and a high of $28.34 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 $11.18 in the last trading session, with the day’s gains setting it 0.2%.

Currently trading at $11.38, the stock is -7.02% and -16.97% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.27 million and changing 1.79% at the moment leaves the stock -35.33% off its SMA200. SHLS registered -47.34% loss for a year compared to 6-month loss of -39.79%. The firm has a 50-day simple moving average (SMA 50) of $4.29 and a 200-day simple moving average (SMA200) of $23.41.

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The stock witnessed a -11.30% gain in the last 1 month and extending the period to 3 months gives it a -28.11%, and is -6.11% 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 6.75% over the week and 5.38% over the month.

Shoals Technologies Group Inc (SHLS) has around 1309 employees, a market worth around $1.94B and $488.94M in sales. Current P/E ratio is 45.91 and Fwd P/E is 13.03. Profit margin for the company is 8.18%. Distance from 52-week low is 3.45% and -59.84% from its 52-week high. The company has generated returns on investments over the last 12 months (5.50%).

Shoals Technologies Group Inc quarterly earnings per share for the current quarter are estimated at $0.06 with sales reaching $97.69M over the same period.The EPS is expected to shrink by -7.46% this year, but quarterly earnings will post 3.60% year-over-year. Quarterly sales are estimated to shrink -7.00% in year-over-year returns.

Shoals Technologies Group Inc (SHLS) Top Institutional Holders

436 institutions hold shares in Shoals Technologies Group Inc (SHLS), with institutional investors hold 127.45% of the company’s shares. The shares outstanding are 170.12M, and float is at 164.03M with Short Float at 15.39%. Institutions hold 123.99% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 19.15 million shares valued at $489.38 million. The investor’s holdings represent 11.27% of the SHLS Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 16.17 million shares valued at $413.29 million to account for 9.51% of the shares outstanding. The other top investors are ClearBridge Investments, LLC which holds 8.52 million shares representing 5.01% and valued at over $217.81 million, while Invesco Ltd. holds 4.55% of the shares totaling 7.73 million with a market value of $197.5 million.

Shoals Technologies Group Inc (SHLS) Insider Activity

The most recent transaction is an insider sale by Peetz Mehgan,the company’sGeneral Counsel. SEC filings show that Peetz Mehgan sold 3,160 shares of the company’s common stock on Mar 08 ’24 at a price of $13.04 per share for a total of $41206.0. Following the sale, the insider now owns 0.11 million shares.

Shoals Technologies Group Inc disclosed in a document filed with the SEC on Mar 08 ’24 that TOLNAR JEFFERY (President) sold a total of 2,750 shares of the company’s common stock. The trade occurred on Mar 08 ’24 and was made at $13.04 per share for $35860.0. Following the transaction, the insider now directly holds 96391.0 shares of the SHLS stock.

Still, SEC filings show that on Mar 08 ’24, Lund Inez (Chief Accounting Officer) disposed off 1,940 shares at an average price of $13.05 for $25317.0. The insider now directly holds 21,577 shares of Shoals Technologies Group Inc (SHLS).

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