Analysis of Shoals Technologies Group Inc. (NASDAQ:SHLS): Selected Notes

Shoals Technologies Group Inc. (NASDAQ: SHLS) closed the day trading at 23.90 down -2.01% from the previous closing price of $24.39. In other words, the price has decreased by $-0.49 from its previous closing price. On the day, 1439319 shares were traded. SHLS reached its highest trading level at $24.74 during the session, while it also had its lowest trading level at $23.38.

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Ratios:

For a better understanding of SHLS, let’s look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 1.70 and its Current Ratio is at 2.80. In the meantime, Its Debt-to-Equity ratio is 18.20 whereas as Long-Term Debt/Eq ratio is at 18.07.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Cowen on September 16, 2022, Upgraded its rating to Outperform and sets its target price to $37.50 from $29 previously.

Goldman Downgraded its Buy to Sell on September 08, 2022, whereas the target price for the stock was revised from $23 to $21.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Sep 14 when Peetz Mehgan sold 2,034 shares for $24.87 per share. The transaction valued at 50,586 led to the insider holds 90,395 shares of the business.

Whitaker Jason R sold 20,514 shares of SHLS for $511,646 on Sep 14. The Chief Executive Officer now owns 668,314 shares after completing the transaction at $24.94 per share. On Sep 13, another insider, Whitaker Jason R, who serves as the Chief Executive Officer of the company, sold 8,333 shares for $25.22 each. As a result, the insider received 210,117 and left with 688,828 shares of the company.

Valuation Measures:

As of this moment, Shoals’s Price-to-Earnings (P/E) ratio for their current fiscal year is 251.58, and their Forward P/E ratio for the next fiscal year is 37.00. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 3.66. For the stock, the TTM Price-to-Sale (P/S) ratio is 16.28 while its Price-to-Book (P/B) ratio in mrq is 183.85.

Stock Price History:

Over the past 52 weeks, SHLS has reached a high of $36.86, while it has fallen to a 52-week low of $9.58. The 50-Day Moving Average of the stock is 23.07, while the 200-Day Moving Average is calculated to be 18.88.

Shares Statistics:

Over the past 3-months, SHLS traded about 2.13M shares per day on average, while over the past 10 days, SHLS traded about 2M shares per day. A total of 112.49M shares are outstanding, with a floating share count of 110.87M. Shares short for SHLS as of Jul 14, 2022 were 10.91M with a Short Ratio of 4.18, compared to 10.27M on Jun 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 9.71% and a Short% of Float of 11.95%.

Earnings Estimates

Current recommendations for the stock of the company come from 12 analysts. On average, analysts expect EPS of $0.07 for the current quarter, with a high estimate of $0.1 and a low estimate of $0.04, while EPS last year was $0.09. The consensus estimate for the next quarter is $0.09, with high estimates of $0.14 and low estimates of $0.07.

Analysts are recommending an EPS of between $0.46 and $0.27 for the fiscal current year, implying an average EPS of $0.31. EPS for the following year is $0.65, with 13 analysts recommending between $1.13 and $0.39.

Revenue Estimates

11 analysts predict $72.6M in revenue for the current quarter. It ranges from a high estimate of $77M to a low estimate of $56.2M. As of the current estimate, Shoals Technologies Group Inc.’s year-ago sales were $59.5M, an estimated increase of 22.00% from the year-ago figure. For the next quarter, 12 analysts are estimating revenue of $83.42M, an increase of 35.30% over than the figure of $22.00% in the same quarter last year. There is a high estimate of $96.6M for the next quarter, whereas the lowest estimate is $75.2M.

A total of 14 analysts have provided revenue estimates for SHLS’s current fiscal year. The highest revenue estimate was $336.9M, while the lowest revenue estimate was $298M, resulting in an average revenue estimate of $314.57M. In the same quarter a year ago, actual revenue was $213.91M, up 47.10% from the average estimate. Based on 14 analysts’ estimates, the company’s revenue will be $493.49M in the next fiscal year. The high estimate is $602.55M and the low estimate is $403.1M. The average revenue growth estimate for next year is up 56.90% from the average revenue estimate for this year.