While Shoals Technologies Group Inc has underperformed by -1.25%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SHLS fell by -68.45%, with highs and lows ranging from $20.63 to $4.88, whereas the simple moving average fell by -35.22% in the last 200 days.
On September 04, 2024, Jefferies started tracking Shoals Technologies Group Inc (NASDAQ: SHLS) recommending Hold. A report published by Exane BNP Paribas on August 07, 2024, Downgraded its rating to ‘Neutral’ for SHLS. Citigroup also Downgraded SHLS shares as ‘Sell’, setting a target price of $5 on the company’s shares in a report dated July 02, 2024. TD Cowen Reiterated the rating as Buy on May 08, 2024, but set its price target from $15 to $11. ROTH MKM May 08, 2024d its ‘Buy’ rating to ‘Neutral’ for SHLS, as published in its report on May 08, 2024. TD Cowen’s report from February 29, 2024 suggests a price prediction of $22 for SHLS shares, giving the stock a ‘Outperform’ rating. RBC Capital Mkts also rated the stock as ‘Outperform’.
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Analysis of Shoals Technologies Group Inc (SHLS)
Further, the quarter-over-quarter decrease in sales is -16.74%, showing a negative trend in the upcoming months.
To gain a thorough understanding of Shoals Technologies Group Inc’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of 4.34% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.50, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and SHLS is recording an average volume of 5.60M. On a monthly basis, the volatility of the stock is set at 6.88%, whereas on a weekly basis, it is put at 5.79%, with a loss of -2.17% over the past seven days. Furthermore, long-term investors anticipate a median target price of $9.05, showing growth from the present price of $6.32, which can serve as yet another indication of whether SHLS is worth investing in or should be passed over.
How Do You Analyze Shoals Technologies Group Inc Shares?
A leading company in the Solar sector, Shoals Technologies Group Inc (SHLS) is based in the USA. When comparing Shoals Technologies Group Inc shares with other companies under Technology, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 46.17, there is a growth in quarterly earnings of -37.59%.
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 3.18%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 119.69% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
SHLS shares are owned by institutional investors to the tune of 119.69% at present.
