The price of Shoals Technologies Group Inc (NASDAQ:SHLS) shares last traded on Wall Street fell -6.03% to $5.77.
SHLS stock price is now 3.28% away from the 50-day moving average and -30.40% away from the 200-day moving average. The market capitalization of the company currently stands at $961.55M.
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With the price target of $46, Wells Fargo recently initiated with Equal Weight rating for Shoals Technologies Group Inc (NASDAQ: SHLS). On October 03, 2024, Citigroup Upgraded its previous ‘Sell’ rating to ‘Neutral’ on the stock increasing its target price from $5 to quote $5.50, while ‘Jefferies’ rates the stock as ‘Hold’
In other news, TOLNAR JEFFERY, President sold 2,110 shares of the company’s stock on Sep 16 ’24. The stock was sold for $13,377 at an average price of $6.34. Upon completion of the transaction, the President now directly owns 125,761 shares in the company, valued at $0.73 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 16 ’24, Chief Accounting Officer Lund Inez sold 350 shares of the business’s stock. A total of $2,216 was realized by selling the stock at an average price of $6.33. This leaves the insider owning 37,675 shares of the company worth $0.22 million. A total of 0.93% of the company’s stock is owned by insiders.
During the past 12 months, Shoals Technologies Group Inc has had a low of $4.85 and a high of $17.50. As of last week, the company has a debt-to-equity ratio of 0.27, a current ratio of 2.26, and a quick ratio of 1.50. According to the stock market information, the enterprise value for the company is $1105109888, which is based on a 42.15 price-to-earnings ratio, a 2.48 price-to-earnings-growth ratio, and a beta of 1.74. The fifty day moving average price for SHLS is $5.5782 and a two-hundred day moving average price translates $8.332125 for the stock.
The latest earnings results from Shoals Technologies Group Inc (NASDAQ: SHLS) was released for 2024-06-30. The net profit margin was 5.13% and return on equity was 4.34% for SHLS. The company reported revenue of $99.25 million for the quarter, compared to $119.21 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -16.74 percent.
