Stocks of Shoals Technologies Group Inc (NASDAQ:SHLS) traded higher last session on Wall Street, down -10.04% to $14.60.
According to the data, Shoals Technologies Group Inc (NASDAQ:SHLS) has 17 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $42.00 and a low of $17.00, we find $28.00. Given the previous closing price of $16.23, this indicates a potential upside of 72.52 percent. SHLS stock price is now -18.23% away from the 50-day moving average and -34.06% away from the 200-day moving average. The market capitalization of the company currently stands at $2.48B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
A total of 2 analysts have issued a hold rating and 13 have given it a buy rating. Brokers who have rated the stock have averaged $28.06 as their price target over the next twelve months.
With the price target of $33, Exane BNP Paribas recently initiated with Outperform rating for Shoals Technologies Group Inc (NASDAQ: SHLS).
In other news, Peetz Mehgan, General Counsel sold 1,990 shares of the company’s stock on Sep 14. The stock was sold for $42,944 at an average price of $21.58. Upon completion of the transaction, the General Counsel now directly owns 81,385 shares in the company, valued at $1.19 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 14, President TOLNAR JEFFERY sold 1,975 shares of the business’s stock. A total of $42,778 was realized by selling the stock at an average price of $21.66. This leaves the insider owning 62,654 shares of the company worth $0.91 million. Insiders disposed of 103,730,713 shares of company stock worth roughly $1.51 billion over the past 1 year. A total of 3.54% of the company’s stock is owned by insiders.
Wednesday’s opening bell rang with an opening price of $15.76 for Shoals Technologies Group Inc (NASDAQ: SHLS). During the past 12 months, Shoals Technologies Group Inc has had a low of $14.31 and a high of $32.43. As of last week, the company has a debt-to-equity ratio of 0.40, a current ratio of 2.59, and a quick ratio of 1.71. According to the stock market information, the enterprise value for the company is $2.86B, which is based on a 15.43 price-to-earnings ratio, a 0.41 price-to-earnings-growth ratio, and a beta of 2.10. The fifty day moving average price for SHLS is $17.85 and a two-hundred day moving average price translates $22.14 for the stock.
The latest earnings results from Shoals Technologies Group Inc (NASDAQ: SHLS) was released for Sep, 2023. According to the Solar Company, earnings per share came in at $0.14, beating analysts’ expectations of $0.13 by 0.01. This compares to $0.11 EPS in the same period last year. The net profit margin was 37.53% and return on equity was 56.48% for SHLS. The company reported revenue of $134.21 million for the quarter, compared to $90.82 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 47.77 percent. For the current quarter, analysts expect SHLS to generate $136.02M in revenue.
