Shoals Technologies Group Inc (NASDAQ:SHLS) traded at $10.27 at close of the session on Monday, April 08, made a downward move of -1.06% on its previous day’s price.
Looking at the stock we see that its previous close was $10.38 and the beta (5Y monthly) reads 1.82 . The company has a trailing 12-month PE ratio of 41.43. In terms of its 52-week price range, SHLS has a high of $28.34 and a low of $10.18. The company’s stock has lost about -21.00% over that past 30 days.
Shoals Technologies Group Inc has a market cap of $1.75 billion and is expected to release its quarterly earnings report on May 06, 2024 – May 10, 2024. Estimates by analysts give the company expected earnings per share (EPS) of $0.06, with the EPS growth for the year raised at $0.6 for 2024 and $0.86 for next year. These figures represent -7.70% and 43.30% growth in EPS for the two years respectively.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $97.69 million, with a low of $91.14 million and a high of $127.2 million. The median projection represents growth adding up to -7.00% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2024 is expected to hit $506.44 million, or 3.60% up from figures reported last year.
There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the SHLS stock, short term indicators assign the stock an average of 100% Sell, while medium term indicators assign it an average of 100% Sell. Long term indicators on average place the stock in the category of 100% Sell.
Looking further, we note that the PEG ratio for the SHLS stock currently stands at 2.69, and the current price level is -12.45% off its SMA20 and -23.51% from its 50-day simple moving average. The RSI (14) is pointing at 32.74 while the volatility over the past week is 5.11% and jumps to 5.15% over the past one month. The beta value is 1.79, while the average true range (ATR) is currently pointing at 0.68.
Coming back to Shoals Technologies Group Inc (NASDAQ:SHLS), we note that the average 3-month trading volume was 3.76 million, while that of the preceding 10-day period stands at 4.27 million. Current shares outstanding are 170.12 million.
The insiders hold 3.70% of the company’s shares while institutions hold 117.38%. The data shows that short shares as of Mar 15, 2024, stood at 25.25 million at a short ratio of 6.22. This represents a 14.82% short interest in shares outstanding on Mar 15, 2024. Shares short fall in March from the previous month at 26.85 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock -33.91% down in year-to-date price movement.
