In yesterday’s Wall Street session, Shoals Technologies Group Inc (NASDAQ:SHLS) shares traded at $10.11, down -4.53% from the previous session.
SHLS stock price is now -24.04% away from the 50-day moving average and -40.87% away from the 200-day moving average. The market capitalization of the company currently stands at $1.72B.
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With the price target reduced from $30 to $22, TD Cowen maintained Outperform rating for Shoals Technologies Group Inc (NASDAQ: SHLS). On February 14, 2024, RBC Capital Mkts recently initiated its ‘Outperform’ rating on the stock quoting a target price of $20, while ‘Barclays’ rates the stock as ‘Equal Weight’
In other news, Peetz Mehgan, General Counsel sold 3,160 shares of the company’s stock on Mar 08 ’24. The stock was sold for $41,206 at an average price of $13.04. Upon completion of the transaction, the General Counsel now directly owns 105,201 shares in the company, valued at $1.06 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 08 ’24, President TOLNAR JEFFERY sold 2,750 shares of the business’s stock. A total of $35,860 was realized by selling the stock at an average price of $13.04. This leaves the insider owning 96,391 shares of the company worth $0.97 million. A total of 3.70% of the company’s stock is owned by insiders.
During the past 12 months, Shoals Technologies Group Inc has had a low of $10.18 and a high of $28.34. As of last week, the company has a debt-to-equity ratio of 0.34, a current ratio of 2.45, and a quick ratio of 1.88. According to the stock market information, the enterprise value for the company is $1.96B, which is based on a 40.78 price-to-earnings ratio, a 2.65 price-to-earnings-growth ratio, and a beta of 1.79. The fifty day moving average price for SHLS is $13.31 and a two-hundred day moving average price translates $17.10 for the stock.
The latest earnings results from Shoals Technologies Group Inc (NASDAQ: SHLS) was released for Dec, 2023. According to the Solar Company, earnings per share came in at $0.12, missing analysts’ expectations of $0.17 by -0.05. This compares to $0.63 EPS in the same period last year. The net profit margin was 8.18% and return on equity was 9.56% for SHLS. The company reported revenue of $130.44 million for the quarter, compared to $94.65 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 37.81 percent. For the current quarter, analysts expect SHLS to generate $97.69M in revenue.
