Goldman lowered the price target for the Shoals Technologies Group Inc. (NASDAQ:SHLS) stock from “a Neutral” to “a Buy”. The rating was released on May 20, 2021. We previously noted in another research note published on May 04, 2021 by Cowen that reiterated the stock to a Market perform with a price target of $31 for SHLS stock. The research report from Barclays has downgraded the stock from Overweight to Equal Weight, with a price target set at $35. The stock was initiated by Johnson Rice, who disclosed in a research note on March 23, 2021, to Buy and set the price objective to $43. In their research brief published March 11, 2021, ROTH Capital analysts initiated the Shoals Technologies Group Inc. stock to Buy with a price target of $38.
Historical Earnings Surprises and Revenue Forecasts
Profit is the most critical financial performance measure. Every investor in a business is looking forward to the earnings report as stock price to increase when earnings exceed market expectations and progressively decrease when earnings do not meet expectations. The firm reported an earnings per share (EPS) of $0.05 during the last quarter as opposed to a consensus estimate of $0.04, which indicates the company beat its estimate by $0.01, which implies that the company surprised the market by 25.00%. It appears that the average earnings per share estimate for the current quarter (ending in Jun 2021) is $0.07. This is an average of 10 analysts’ earnings, where the high earnings per share estimate is $0.08 and the low earnings per share estimate is $0.06. According to 10 analyst estimates, an average revenue estimate of $58.61M is projected for the current quarter with a high revenue estimate of $60.7M and a low estimate of $54M.
The latest trade, Performances and Moving Averages give us the following Picture
The share price of Shoals Technologies Group Inc. (NASDAQ:SHLS) raised 4.01% to close Friday’s market session at $24.39, higher as compared to yesterday’s close. The stock price fluctuated between $23.21 and $24.84 throughout the trading session with the volume trading being 2110310 shares, which represented a significant variation when compared to the three months average volume of 1.75 million shares. The firm’s stock price fluctuated 5.68% within the last five trades and -27.93% within the last 30 trades, which was a significant change from the beginning of this year. SHLS stock is trading at a margin of -14.54%, -22.62% and -26.95% apart from the 20-Day, 50-Day and 200-Day Simple Moving Average prices.
As of the close of trading, SHLS deals in the Technology domain. The stock is trading -44.62 percent below its 52-week high and 16.48 percent above its 52-week low. For example, looking both at the price and the high and low measurements of 52 weeks will give you a clearer picture of the direction the price is heading. The firm’s Weighted Alpha is null. A positive weighted alpha indicates the firm has done well over the course of the year, whereas one below 0 indicates that the firm has done poorly.
What Does Shoals Technologies Group Inc.’s Profitability and Valuation Ratios Tell Us About the Stock?
The stock’s market cap achieved a total value of $3.91 billion as of the last trading session. Market capitalization is the total value of all outstanding shares of a corporation and it is used to measure a company’s market value. The price-to-earnings ratio is a method of assessing corporate values by comparing them to their per-share profit. Forward P/E stands at 45.42. Forward price-to-earnings is calculated using predicted earnings for the next financial year’s P/E determination. The stock has achieved an effective Price-to-Sales Ratio of 22.26 that mirrors the cost to be found for sales by the market.
Is Insider Trading a Real Thing?
Almost all investors and traders prefer to invest in shares controlled by the management of a corporation as a management company will be more likely to run the business itself and to never conduct things against the management’s desires and will always try to do what is best for their shareholders. Currently, 0.50 percent of Shoals Technologies Group Inc. shares are owned by insiders, and 95.10 percent are held by financial institutions.