Stocks of Shoals Technologies Group Inc. (SHLS) are poised to climb above their peers

Shoals Technologies Group Inc. (NASDAQ: SHLS) stock fell -4.50% on Friday to $20.99 against a previous-day closing price of $21.98. With 2.56 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.34 million shares. During the session, the Solar company that operates in wider Technology sector, reached to the highest price of $21.98 whereas the lowest price it dropped to was $20.77. The 52-week range on SHLS shows that it touched its highest point at $32.43 and its lowest point at $17.32 during that stretch. It currently has a 1-year price target of $30.93. Beta for the stock currently stands at 2.09.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SHLS was up-trending over the past week, with a rise of 0.82%, but this was up by 3.65% over a month. Three-month performance dropped to -18.30% while six-month performance rose 5.90%. The stock lost -17.39% in the past year, while it has lost -14.92% so far this year. A look at the trailing 12-month EPS for SHLS yields 0.62 with Next year EPS estimates of 0.88. For the next quarter, that number is 0.15. This implies an EPS growth rate of 56.80% for this year and 51.46% for next year. EPS is expected to grow by 46.70% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 53.45%.

Float and Shares Shorts:

At present, 169.89 million SHLS shares are outstanding with a float of 132.70 million shares on hand for trading. On Aug 30, 2023, short shares totaled 17.77 million, which was 10.46% higher than short shares on Jul 30, 2023. In addition to Mr. Jeffery Tolnar as the firm’s Pres, Mr. Dominic Bardos serves as its Chief Financial Officer.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, SHLS reported revenue of $73.49M and operating income of $12.98M. The EBITDA in the recently reported quarter was $15.69M and diluted EPS was $0.04.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SHLS since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With SHLS analysts setting a high price target of $42.00 and a low target of $20.00, the average target price over the next 12 months is $30.93. Based on these targets, SHLS could surge 100.1% to reach the target high and fall by -4.72% to reach the target low. Reaching the average price target will result in a growth of 47.36% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded SHLS stock several times over the past three months with 1 Buys and 1 Sells. In these transactions, 102,959 shares were bought while 8,699 shares were sold. The number of buy transactions has increased to 18 while that of sell transactions has risen to 35 over the past year. The total number of shares bought during that period was 51,243,101 while 103,726,748 shares were sold.

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