The stock of Shoals Technologies Group Inc (NASDAQ:SHLS) last traded at $4.95, up 2.06% from the previous session.
SHLS stock price is now -11.05% away from the 50-day moving average and -38.80% away from the 200-day moving average. The market capitalization of the company currently stands at $824.89M.
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With the price target enhanced from $9.50 to $11, TD Cowen maintained Buy rating for Shoals Technologies Group Inc (NASDAQ: SHLS). On October 14, 2024, Wells Fargo recently initiated its ‘Equal Weight’ rating on the stock quoting a target price of $46, while ‘Citigroup’ rates the stock as ‘Neutral’
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 $0.62 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 $0.19 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 $4.64 and a high of $17.50. As of last week, the company has a debt-to-equity ratio of 0.26, a current ratio of 2.08, and a quick ratio of 1.36. According to the stock market information, the enterprise value for the company is $951795328, which is based on a 25.62 price-to-earnings ratio, a 1.51 price-to-earnings-growth ratio, and a beta of 1.68. The fifty day moving average price for SHLS is $5.5878 and a two-hundred day moving average price translates $8.130675 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 7.78% and return on equity was 6.15% for SHLS. The company reported revenue of $102.17 million for the quarter, compared to $134.21 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -23.88 percent.
