In yesterday’s Wall Street session, Shoals Technologies Group Inc (NASDAQ:SHLS) shares traded at $4.15, down -2.58% from the previous session.
SHLS stock price is now -24.16% away from the 50-day moving average and -47.47% away from the 200-day moving average. The market capitalization of the company currently stands at $691.80M.
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 $0.52 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 $0.16 million. A total of 1.03% of the company’s stock is owned by insiders.
During the past 12 months, Shoals Technologies Group Inc has had a low of $4.22 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 $840782272, which is based on a 21.48 price-to-earnings ratio, a 1.05 price-to-earnings-growth ratio, and a beta of 1.68. The fifty day moving average price for SHLS is $5.507 and a two-hundred day moving average price translates $7.950125 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.
