Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Shoals Technologies Group Inc shares valued at $13,377 were sold by TOLNAR JEFFERY on Sep 16 ’24. At $6.34 per share, TOLNAR JEFFERY sold 2,110 shares. The insider’s holdings dropped to 125,761 shares worth approximately $0.62 million following the completion of this transaction.
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Also, Lund Inez sold 350 shares, netting a total of over 2,216 in proceeds. Following the sale of shares at $6.33 each, the insider now holds 37,675 shares.
Before that, Jeffrey Tolnar had added 2,110 shares to its account. In a trade valued at $13,261, the President bought Shoals Technologies Group Inc shares for $6.28 each.
As published in their initiating research note from Wells Fargo on October 14, 2024, Shoals Technologies Group Inc [SHLS] has been an Equal weight and the price target has been revised to $46. Analysts at Citigroup upgraded the stock from ‘”a Sell”‘ to ‘”a Neutral”‘ outlook in a report released in early October. As of September 04, 2024, Jefferies has initiated its “Hold” rating for SHLS. Earlier on August 07, 2024, Exane BNP Paribas downgraded its rating. Their new recommendation was “a Neutral” for SHLS stock which previously was a “an Outperform”.
Analyzing SHLS Stock Performance
During the last five days, there has been a drop of approximately -4.08%. Over the course of the year, Shoals Technologies Group Inc shares have dropped approximately -68.21%. Shares of the company reached a 52-week high of $17.50 on 02/12/24 and a 52-week low of $4.85 on 10/08/24. A 50-day SMA is recorded $5.57, while a 200-day SMA reached $8.88. Nevertheless, trading volume fell to 3.24 million shares from 4.42 million shares the previous day.
Support And Resistance Levels for Shoals Technologies Group Inc (SHLS)
According to the 24-hour chart, there is a support level at 4.86, which, if violated, would cause prices to drop to 4.78. In the upper region, resistance lies at 5.08. The next price resistance is at 5.22. RSI (Relative Strength Index) is 37.47 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.12, which suggests the price will decrease in the coming days. Percent R is at 91.00%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
