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Wednesday, March 22, 2023

Is Shoals Technologies Group Inc. (NASDAQ: SHLS) No Longer A Good Investment?

After Hours

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. After-hours trades for Shoals Technologies Group Inc. (SHLS) shows that investor sentiment remained same, with the stock’s consolidated last price remained same to $23.20. The Shoals Technologies Group Inc. has recorded 442,612 volume in the after hours trading session. Most recently, Yahoo Finance reported about the stock as it publicized that Shoals Technologies Group, Inc. Announces Pricing of Secondary Offering of 24,501,650 Shares of Class A Common Stock by Selling Stockholders.

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Stocks Info

SHLS belongs to the Technology sector of the NASDAQ while operating in the Solar industry. At the end of the last regular session, the stock closed at $23.20 and fluctuated between $24.68 as its day high and $23.01 as its day low. The current market capitalization of Shoals Technologies Group Inc. is $3.76B. A total of 6.7 million shares were traded on the day, compared to an average of 2.53M shares.

Insider Activity

Investors also take into account insider trades in predicting how the stock will perform in the future. During the recent three months, SHLS has seen 3 BUY and 11 SELL insider trades, representing the acquisition of 74,256 and the disposition of 98,100 shares. Over the last 12 months, there were 19 BUYs and 30 SELLs from insiders. Insiders purchased 22,293,174 shares during that period but sold 50,262,464.

In the most recent transaction, Whitaker Jason R sold 15,040 shares of SHLS for 25.08 per share on Mar 03. After the transaction, the Chief Executive Officer now owns 446,924 company shares. In a previous transaction on Mar 02, Whitaker Jason R sold 3,008 shares at 24.59 per share. SHLS shares that Chief Executive Officer owns now total 461,964.

Among the insiders who sold shares, Whitaker Jason R disposed of 12,039 shares on Feb 13 at a per-share price of $25.07. This resulted in the Chief Executive Officer holding 464,972 shares of SHLS after the transaction. In another insider transaction, Whitaker Jason R sold 6,009 shares at $24.43 per share on Feb 10. Company shares held by the Chief Executive Officer now total 477,011.

While price targets are rarely accurate, they tend to exert some kind of influence from time to time and are often taken into account by investors. According to analysts who have offered 12-month price targets for SHLS in the last 3 months, the mean price target is $31.64 with high estimates of $41.00 and low estimates of $20.00. In terms of 52-week highs and lows, SHLS has a high of $32.43 and a low of $9.58.

As of this writing, SHLS has an earnings estimate of $0.1 per share for the current quarter. EPS was calculated based on a consensus of 11 estimates, with a high estimate of $0.13 per share and a lower estimate of $0.08. The company reported an EPS of $0.1 in the last quarter, which was 25.00% higher than expectations of $0.08.

Balance Sheet Annually/Quarterly

An organization’s balance sheet depicts the assets and liabilities it has, as well as the amount of equity invested. Investors can measure a company’s prospects by calculating its financial ratios using this information. SHLS’s latest balance sheet shows that the firm has $5.01M in Cash & Short Term Investments as of fiscal 2021. There were $247.05M in debt and $31.55M in liabilities at the time. Its Book Value Per Share was $2.42, while its Total Shareholder’s Equity was -$7.50M.

Analysts Opinion

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. Currently, 16 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for SHLS is Underweight with a score of 3.67. A total of 8 analysts rated the stock as Buy while 0 rated it as Overweight while 7 rated it as Hold. Among the other participants, 0 thought the stock was Underweight and 1 thought it should be Sold.

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