Shoals Technologies Group Inc’s filing revealed that its General Counsel Peetz Mehgan unloaded Company’s shares for reported $41206.0 on Mar 08 ’24. In the deal valued at $13.04 per share,3,160 shares were sold. As a result of this transaction, Peetz Mehgan now holds 105,201 shares worth roughly $0.88 million.
Then, TOLNAR JEFFERY sold 2,750 shares, generating $35,860 in total proceeds. Upon selling the shares at $13.04, the President now owns 96,391 shares.
Before that, Lund Inez sold 1,940 shares. Shoals Technologies Group Inc shares valued at $25,317 were divested by the Chief Accounting Officer at a price of $13.05 per share. As a result of the transaction, Lund Inez now holds 21,577 shares, worth roughly $0.18 million.
TD Cowen reiterated its Shoals Technologies Group Inc [SHLS] rating to an Outperform in a research note published on February 29, 2024; the price target was $22. A number of analysts have revised their coverage, including RBC Capital Mkts’s analysts, who began to cover the stock in mid February with a ‘”an Outperform”‘ rating. Barclays also remained covering SHLS and has increased its forecast on January 22, 2024 with a “an Equal weight” recommendation from previously “an Underweight” rating. Janney started covering the stock on January 19, 2024. It rated SHLS as “a Buy”.
Price Performance Review of SHLS
On Tuesday, Shoals Technologies Group Inc [NASDAQ:SHLS] saw its stock fall -4.24% to $8.35. Over the last five days, the stock has lost -21.15%. Shoals Technologies Group Inc shares have fallen nearly -46.27% since the year began. Nevertheless, the stocks have fallen -63.63% over the past one year. While a 52-week high of $28.34 was reached on 02/12/24, a 52-week low of $8.66 was recorded on 04/16/24. SMA at 50 days reached $12.85, while 200 days put it at $16.70. A total of 7.49 million shares were traded, compared to the trading of 4.94 million shares in the previous session.
Levels Of Support And Resistance For SHLS Stock
The 24-hour chart illustrates a support level at 8.16, which if violated will result in even more drops to 7.97. On the upside, there is a resistance level at 8.61. A further resistance level may holdings at 8.88. The Relative Strength Index (RSI) on the 14-day chart is 24.04, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.53, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 97.02%. Stochastics %K at 2.41% indicates the stock is a buying.
The most recent change occurred on November 21, 2023 when Mizuho began covering the stock and recommended ‘”a Buy”‘ rating along with a $18 price target.
