Take A Look At Insider Trading For Shoals Technologies Group Inc. (SHLS)

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The stock of Shoals Technologies Group Inc. (NASDAQ:SHLS) decreased by -$0.67 on Monday to $25.89, down -2.52 percent. The last five days have seen an average of 1,617,614 shares of common stock traded. 9 times new highs were reached in the current year, with a gain of $1.62. The average number of shares traded over the last 20 days was 1,674,508, while the average volume over the last 50 days totaled 1,773,301.

SHLS stock dropped -0.23% since last month. On 08/22/22, the company’s shares reached a one-month low of $24.18. The stock touched a high of $36.86 on 09/08/22, after rallying from a low of $9.58 in 52 weeks. The price of SHLS stock has risen by 9.30% or $1.62 this year, reaching a new high 9 times. Still, the stock price is down -29.76% from the 52-week high.

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Insider Transactions

There have been 21 days since Shoals Technologies Group Inc. (SHLS) last reported insider trading activity on Aug 22. On Aug 22, General Counsel Peetz Mehgan sold 3,703 shares at $25.24 each. This transaction resulted in the insider making $93,464. On Aug 19, Whitaker Jason R sold 8,333 shares at a price of US$26.05. After the transaction, the insider now owns 699,285 shares. Chief Executive Officer Whitaker Jason R had earlier sold 125,003 shares on Aug 18 for $26.84 a share. The transaction was completed for $3,355,081.

Valuation Metrics

Shoals Technologies Group Inc. (SHLS) has a trailing price-to-earnings (P/E) ratio of 279.58. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 18.50, the price-to-book (PB) ratio of 204.31.

Financial Health

For the three months ended June 29, Shoals Technologies Group Inc.’s quick ratio was 1.70, while its current ratio was 2.80, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 18.07, and the total debt to equity ratio is 18.20. As far as profitability goes, gross margin for the trailing twelve months is 37.10% percent. Shoals Technologies Group Inc.’s operating margin stood at 14.10% for the same period. Based on annual data, it had gross profit of $82.64 million and revenue of $213.21 million.

Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. SHLS’s return on assets (ROA) during the last 12 months has been 2.30%. There was a 8.10% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 156.80%.

Earnings Surprise

According to Shoals Technologies Group Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $73.49 million, while revenues rose by 18.74% to $67.98 million. It was predicted that Shoals Technologies Group Inc.’s quarterly earnings would be $0.07, but it ended up being $0.07. EBITDA was $16.1 million for the quarter. At the end of Shoals Technologies Group Inc.’s most recent quarter ended June 29, its liabilities totaled 488.18 million, while its total debt was $285.2 million. Equity owned by shareholders amounts to $167.2 million.

Technical Picture

Here’s a quick look at Shoals Technologies Group Inc.’s (SHLS) price momentum from a technical perspective. As of 09 September, the RSI 9-day stood at 50.73%, suggesting the stock is Neutral, with a 55.10% historical volatility rate.

The stochastic %K and %D were 56.78% and 69.08% respectively, while the average true range (ATR) was 1.86. Based on the 14-day stochastic reading of 35.15%, the RSI (14) reading is 53.90%. On the 9-day MACD Oscillator, the stock is at 0.45, and the 14-day reading is at 0.66.

Analyst Ratings

Shoals Technologies Group Inc. (NASDAQ: SHLS) was downgraded by Guggenheim to a a Neutral rating in its latest research report. The stock was previously rated as a a Buy. Analysts have assigned Shoals Technologies Group Inc. (SHLS) an Overweight rating. SHLS is a stock that is recommended for selling by 1 brokerage firm, while 6 companies recommend holding. The stock is underweighted by 1 analyst. Among the analysts who rate the stock, 0 rates it overweight and 6 others recommend it as a buy.

What is SHLS’s price target for the next 12 months?

The current consensus forecast for the stock is between $21.00 and $40.00, with a median target price of $29.00. In analyzing these forecasts, the average price target given by analysts for Shoals Technologies Group Inc. (SHLS) is $30.33.


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