While Shoals Technologies Group Inc has underperformed by -5.23%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SHLS fell by -67.03%, with highs and lows ranging from $17.50 to $4.07, whereas the simple moving average fell by -33.95% in the last 200 days.
On November 25, 2024, BofA Securities started tracking Shoals Technologies Group Inc (NASDAQ: SHLS) recommending Buy. A report published by TD Cowen on November 13, 2024, Reiterated its previous ‘Buy’ rating for SHLS. Wells Fargo also rated SHLS shares as ‘Equal Weight’, setting a target price of $46 on the company’s shares in an initiating report dated October 14, 2024. Citigroup October 03, 2024d the rating to Neutral on October 03, 2024, and set its price target from $5 to $5.50. Jefferies initiated its ‘Hold’ rating for SHLS, as published in its report on September 04, 2024. Exane BNP Paribas’s report from August 07, 2024 suggests a price prediction of $7 for SHLS shares, giving the stock a ‘Neutral’ rating. Citigroup also rated the stock as ‘Sell’.
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Analysis of Shoals Technologies Group Inc (SHLS)
Further, the quarter-over-quarter decrease in sales is -23.88%, showing a negative trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Shoals Technologies Group Inc’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of 6.15% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.36, 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.
As an indicator of volatility for any stock, average volume can also be very valuable, and SHLS is recording an average volume of 5.41M. On a monthly basis, the volatility of the stock is set at 8.43%, whereas on a weekly basis, it is put at 5.80%, with a loss of -3.55% over the past seven days. Furthermore, long-term investors anticipate a median target price of $7.52, showing growth from the present price of $4.89, 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?
Shoals Technologies Group Inc (SHLS) is based in the USA and is one of the most prominent companies operating in the Solar market. 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 25.31, there is a growth in quarterly earnings of 97.23%.
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. 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 0.96%. 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 104.97% 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 104.97% at present.
