Currently, Shoals Technologies Group Inc [SHLS] is trading at $6.62, down -0.15%. An important factor to consider is whether the stock is rising or falling in short-term value. The SHLS shares have lost -2.79% over the last week, with a monthly amount glided 2.00%, and 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 July 02, 2024, when Citigroup downgraded its rating to a Sell and also revised its price target to $5 from $15. Previously, TD Cowen reaffirmed its Buy rating on May 08, 2024, and dropped its price target to $11. On May 08, 2024, downgrade downgraded it’s rating to Neutral and revised its price target to $8 on the stock. TD Cowen reiterated its Outperform rating and decreased its price target to $22 on February 29, 2024. RBC Capital Mkts initiated its recommendation with a Outperform and recommended $20 as its price target on February 14, 2024. Barclays upgraded its rating to Equal Weight for this stock on January 22, 2024, and downed its price target to $15. In a note dated January 19, 2024, Janney initiated an Buy rating and provided a target price of $20 on this stock.
This stock has fluctuated between a low of $5.69 and a high of $27.86 over the last 52 weeks. Currently, Wall Street analysts expect the stock to reach $26.13 within the next 12 months. Shoals Technologies Group Inc [NASDAQ: SHLS] shares were valued at $6.62 at the most recent close of the market. An investor can expect a potential return of 294.71% based on the average SHLS price forecast.
Analyzing the SHLS fundamentals
Trailing Twelve Months sales for Shoals Technologies Group Inc [NASDAQ:SHLS] were 474.66M which represents -13.59% decline. Gross Profit Margin for this corporation currently stands at 0.32% with Operating Profit Margin at 0.14%, Pretax Profit Margin comes in at 0.09%, and Net Profit Margin reading is 0.06%. To continue investigating profitability, this company’s Return on Assets is posted at 0.04, Equity is 0.06 and Total Capital is 0.09. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.3.
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 6.49 points at the first support level, and at 6.36 for the second support level. However, for the 1st resistance point, the stock is sitting at 6.75, and for the 2nd resistance point, it is at 6.87.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Shoals Technologies Group Inc [NASDAQ:SHLS] is 2.62. On the other hand, the Quick Ratio is 1.87, and the Cash Ratio is 0.19. Considering the valuation of this stock, the price to sales ratio is 2.38, the price to book ratio is 2.04 and price to earnings (TTM) ratio is 37.05.
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.
