An Shoals Technologies Group Inc. (SHLS) General Counsel Sells 2034.0 Shares

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Shoals Technologies Group Inc. (NASDAQ:SHLS) traded with a subtraction of -$1.41 to $21.65 on Thursday, a downside of -6.11 percent. An average of 1,641,521 shares of common stock have been traded in the last five days. There was a fall of -$3.16 in the past week, and it reached a new high 4 times over the past 12 months. The last 20 days have seen an average of 1,606,570 shares traded, while the 50-day average volume stands at 1,804,796.

SHLS stock has decreased by -7.98% in the last month. The company shares reached their 1-month lowest point of $21.43 on 09/22/22. With the stock rallying to its 52-week high on 09/08/22, shares of the company touched a low of $9.58 and a high of $36.86 in 52 weeks. It has reached a new high 9 times so far this year and lost -5.10% or -$2.68 in price. In spite of this, the price is down -41.26% from the 52-week high.


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Insider Transactions

8 days have passed since Shoals Technologies Group Inc. (SHLS) last reported insider trading activity. Peetz Mehgan, who is General Counsel, most recently acquired $2,034 shares at $24.87 per share on Sep 14. In this transaction, the insider spent $50,586. Chief Executive Officer, Whitaker Jason R, disposed of 20,514 shares at a price of $24.94 on Sep 14. The insider now owns more than $511,646 worth of shares. Prior to that, Chief Executive Officer Whitaker Jason R went on to Sale 8,333 shares at $25.22 each on Sep 13. An amount of $210,117 was transacted.

Valuation Metrics

Shoals Technologies Group Inc. (SHLS) has a trailing price-to-earnings (P/E) ratio of 242.74. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 15.71, the price-to-book (PB) ratio at 177.38.

Financial Health

The quick ratio of Shoals Technologies Group Inc. for the three months ended June 29 was 1.70, and the current ratio was 2.80, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 18.07 and a total debt to equity ratio of 18.20 for the quarter ending June 29. Its gross profit as reported stood at $82.64 million compared to revenue of $213.21 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Shoals Technologies Group Inc.’s return on assets was 2.30%.

Earnings Surprise

For the three-month period that ended June 29, Shoals Technologies Group Inc. had $85.14 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $4.4 million in the quarter, while revenues of $2.64 million were shrunk -3.64%. The analyst consensus anticipated Shoals Technologies Group Inc.’s latest quarter earnings to come in at $0.07 per share, but it turned out to be $0.07, a 0.00% surprise. For the quarter, EBITDA amounted to $16.1 million. Shareholders own equity worth $167.2 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Shoals Technologies Group Inc. (SHLS) price momentum. RSI 9-day as of the close on 21 September was 26.40%, suggesting the stock is oversold, with historical volatility in this time frame at 29.33%.

As of today, SHLS’s price is $23.18 -12.75% or -$3.16 from its 5-day moving average. SHLS is currently trading -18.90% lower than its 20-day SMA and +116.63% higher than its 100-day SMA. However, the stock’s current price level is +31.35% above the SMA50 and -21.52% below the SMA200.

The stochastic %K and %D were 3.16% and 7.46%, respectively, and the average true range (ATR) was 1.68. With the 14-day stochastic at 2.70% and the average true range at 1.74, the RSI (14) stands at 36.62%. The stock has reached -1.61 on the 9-day MACD Oscillator while the 14-day reading was at -2.46.

Analyst Ratings

Cowen upgraded Shoals Technologies Group Inc. (NASDAQ: SHLS) to a an Outperform rating in its most recent analyst report. Previously, the stock was rated as a Market perform. The consensus rating for Shoals Technologies Group Inc. (SHLS) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell SHLS, while 5 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 7 others rate it as a “buy”.

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

Analysts predict a range of price targets between $21.00 and $40.00, with a median target of $29.50. Taking a look at these predictions, the average price target given by analysts for Shoals Technologies Group Inc. (SHLS) stock is $31.29.

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