Shoals Technologies Group Inc (NASDAQ:SHLS) traded at $6.03 at close of the session on Tuesday, May 13 and made an upward move of 12.50% on its previous day’s price.
Shoals Technologies Group Inc has a market cap of $1.01 billion and is expected to release its quarterly earnings report in June.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at 104.21M, with a low of 100.9M and a high of 108.18M. The median projection represents growth squeezing down to 5.00% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for current year is expected to hit 436.12M, or 9.25% up from figures reported last year.
On the other hand, looking at the outlook for the SHLS stock, short term indicators assign the stock an average of Hold, while medium term indicators assign it an average of 50% Sell.
Based on estimates by 9 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 1 have rated the Shoals Technologies Group Inc (SHLS) stock as a Hold, while 7 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 1 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.
Looking further, we note that the PEG ratio for the SHLS stock currently stands at 3.07, and the current price level is 51.01% off its SMA20 and 70.59% from its 50-day simple moving average. The RSI (14) is pointing at 85.10 while the volatility over the past week is 8.67% and jumps to 7.73% over the past one month. The beta value is 1.68, while the average true range (ATR) is currently pointing at 0.37. The average price target for the stock over the next 12 months is $7, with the estimates having a low of $7 and a high of $7. These price ends are -16.09% and -16.09% off the current price level respectively, although investors could be excited at the prospect of a -16.09% if the SHLS share price touches on the median price of $7.
