Shoals Technologies Group Inc. (NASDAQ:SHLS) saw an upside of 0.52% to close Tuesday at $19.22 after adding $0.1 on the day. The 5-day average trading volume is 2,479,920 shares of the company’s common stock. It has gained $20.77 in the past week and touched a new high 1 time within the past 5 days. An average of 2,632,240 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,348,814.
SHLS’s 1-month performance is -28.12% or -$7.16 on its low of $18.71 reached on 08/22/23. The company’s shares have touched a 52-week low of $17.32 and high of $32.43, with the stock’s rally to the 52-week high happening on 01/24/23. YTD, SHLS has lost -22.09% or -$5.45 and has reached a new high 7 times. However, the current price is down -40.73% from the 52-week high price.
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Insider Transactions
SHLS stock investors last saw insider trading activity on Jun 16.Peetz Mehgan (General Counsel) most recently sold 7,279 shares at $24.78 per share on Jun 16. This transaction cost the insider $180,374. President, TOLNAR JEFFERY, sold 1,415 shares at a price of $22.79 on Apr 03. Then, on Mar 15, President TOLNAR JEFFERY sold 3,575 shares at a price of $19.73 per share. This transaction amounted to $70,535.
Valuation Metrics
SHLS stock has a beta of 2.14. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 8.15 while the price-to-book (PB) in the most recent quarter is 6.16, with the price to cash flow ratio at 42.49.
Shoals Technologies Group Inc.’s quick ratio for the period ended June 29 was 1.70, with the current ratio over the same period at 2.60. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.39, while the total debt to equity was 0.40.. In terms of profitability, the gross margin trailing 12 months is 42.80%. The trailing 12-month EBITDA margin is 23.52% while for the period ending June 29, Shoals Technologies Group Inc.’s operating margin was 24.70%. The firm’s gross profit as reported stood at $131.31 million against revenue of $326.94 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 76.74% to $18.92 million, while revenue of $14.3 million was 24.42% off the previous quarter. Analysts expected SHLS to announce $0.13 per share in earnings in its latest quarter, but it posted $0.14, representing a 7.70% surprise. EBITDA for the quarter stood at more than $34.56 million. SHLS stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 289.42 million, with total debt at $214.23 million. Shareholders hold equity totaling $169.94 million.
Let’s look briefly at Shoals Technologies Group Inc. (SHLS) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 August was 14.49% to suggest the stock is trending oversold, with historical volatility in this time period at 24.32%.
The stock’s 5-day moving average is $19.44, reflecting a -7.06% or -$1.46 change from its current price. SHLS is currently trading -28.60% above its 20-day SMA, -11.06% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -19.95% and SMA200 by-10.94%.
Stochastic %K and %D was 4.80% and 2.94% and the average true range (ATR) pointed at 0.93. The RSI (14) points at 22.88%, while the 14-day stochastic is at 7.98% with the period’s ATR at 1.03. The stock’s 9-day MACD Oscillator is pointing at -1.19 and -2.00 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Shoals Technologies Group Inc. (NASDAQ: SHLS), Northland Capital upgraded it to an Outperform rating. They previously had a Market perform rating on the stock. Analysts offering their rating for SHLS stock have a consensus rating for the stock as Overweight. Currently, 1 brokerage advisors rate SHLS as a “sell,”, while 4 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 0 rates the stock as overweight while 10 have offered a “buy” rating.
What is SHLS’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $20.00 and a high of $42.00, with their median price target at $31.00. Looking at these predictions, the average price target given by analysts is for Shoals Technologies Group Inc. (SHLS) stock is $31.60.
