Shoals Technologies Group Inc (NASDAQ:SHLS) shares traded 0.93% higher at $5.44 on Wall Street last session.
SHLS stock price is now 8.29% away from the 50-day moving average and -18.55% away from the 200-day moving average. The market capitalization of the company currently stands at $906.85M.
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With the price target maintained at $7, Morgan Stanley recently Upgraded its rating from Equal-Weight to Overweight for Shoals Technologies Group Inc (NASDAQ: SHLS). On November 25, 2024, BofA Securities recently initiated its ‘Buy’ rating on the stock quoting a target price of $6, while ‘TD Cowen’ rates the stock as ‘Buy’
In other news, Lund Inez, Chief Accounting Officer sold 850 shares of the company’s stock on Dec 05 ’24. The stock was sold for $4,012 at an average price of $4.72. Upon completion of the transaction, the Chief Accounting Officer now directly owns 36,825 shares in the company, valued at $0.2 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 05 ’24, President TOLNAR JEFFERY sold 1,310 shares of the business’s stock. A total of $6,092 was realized by selling the stock at an average price of $4.65. This leaves the insider owning 124,451 shares of the company worth $0.68 million. A total of 0.95% of the company’s stock is owned by insiders.
During the past 12 months, Shoals Technologies Group Inc has had a low of $4.07 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 $984143488, which is based on a 28.16 price-to-earnings ratio, a 2.96 price-to-earnings-growth ratio, and a beta of 1.68. The fifty day moving average price for SHLS is $5.017 and a two-hundred day moving average price translates $6.712175 for the stock.
The latest earnings results from Shoals Technologies Group Inc (NASDAQ: SHLS) was released for 2024-09-30. 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.
