Shoals Technologies Group Inc [SHLS] stock is trading at $12.24, up 3.03%. An important factor to consider is whether the stock is rising or falling in short-term value. The SHLS shares have gain 2.09% over the last week, with a monthly amount drifted -23.21%, and not seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Shoals Technologies Group Inc [NASDAQ: SHLS] stock has seen the most recent analyst activity on February 29, 2024, when TD Cowen reiterated its Outperform rating and also revised its price target to $22 from $30. Previously, RBC Capital Mkts started tracking the stock with Outperform rating on February 14, 2024, and set its price target to $20. On January 22, 2024, upgrade upgraded it’s rating to Equal Weight and revised its price target to $15 on the stock. Janney started tracking the stock assigning a Buy rating and suggested a price target of $20 on January 19, 2024. Mizuho initiated its recommendation with a Buy and recommended $18 as its price target on November 21, 2023. Exane BNP Paribas started tracking with a Outperform rating for this stock on October 20, 2023, and assigned it a price target of $33. In a note dated October 11, 2023, Goldman upgraded an Buy rating on this stock and boosted its target price from $27 to $28.
Shoals Technologies Group Inc [SHLS] stock has fluctuated between $11.48 and $28.34 over the past year. Currently, Wall Street analysts expect the stock to reach $29.71 within the next 12 months. Shoals Technologies Group Inc [NASDAQ: SHLS] shares were valued at $12.24 at the most recent close of the market. An investor can expect a potential return of 142.73% based on the average SHLS price forecast.
Analyzing the SHLS fundamentals
Shoals Technologies Group Inc [NASDAQ:SHLS] reported sales of 488.94M for the trailing twelve months, which represents a growth of 37.81%. Gross Profit Margin for this corporation currently stands at 0.34% with Operating Profit Margin at 0.16%, Pretax Profit Margin comes in at 0.11%, and Net Profit Margin reading is 0.08%. To continue investigating profitability, this company’s Return on Assets is posted at 0.05, Equity is 0.08 and Total Capital is 0.1. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.34.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 11.85 points at the first support level, and at 11.46 for the second support level. However, for the 1st resistance point, the stock is sitting at 12.51, and for the 2nd resistance point, it is at 12.77.
Ratios To Look Out For
For context, Shoals Technologies Group Inc’s Current Ratio is 2.45. On the other hand, the Quick Ratio is 1.88, and the Cash Ratio is 0.25. Considering the valuation of this stock, the price to sales ratio is 4.26, the price to book ratio is 3.82 and price to earnings (TTM) ratio is 49.37.
Transactions by insiders
Recent insider trading involved Peetz Mehgan, General Counsel, that happened on Mar 08 ’24 when 3160.0 shares were sold. President, TOLNAR JEFFERY completed a deal on Mar 08 ’24 to sell 2750.0 shares. Meanwhile, Chief Accounting Officer Lund Inez sold 1940.0 shares on Mar 08 ’24.
