The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Shoals Technologies Group Inc shares valued at $4,012 were sold by Lund Inez on Dec 05 ’24. At $4.72 per share, Lund Inez sold 850 shares. The insider’s holdings dropped to 36,825 shares worth approximately $0.2 million following the completion of this transaction.
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Also, TOLNAR JEFFERY sold 1,310 shares, netting a total of over 6,092 in proceeds. Following the sale of shares at $4.65 each, the insider now holds 124,451 shares.
Before that, Bardos Dominic had sold 4,300 shares from its account. In a trade valued at $20,167, the Chief Financial Officer traded Shoals Technologies Group Inc shares for $4.69 each. Upon closing the transaction, the insider’s holdings decreased to 4,300 shares, worth approximately $1.27 million.
As published in a research note from Morgan Stanley on December 17, 2024, Shoals Technologies Group Inc [SHLS] has been rated up from an Equal-weight to an Overweight and the price target has been revised to $7. Analysts at BofA Securities started covering the stock with ‘”a Buy”‘ outlook in a report released in late November. As of November 13, 2024, TD Cowen has reiterated its “Buy” rating for SHLS. Earlier on October 14, 2024, Wells Fargo initiated its rating. Their recommendation was “an Equal weight” for SHLS stock.
Analyzing SHLS Stock Performance
During the last five days, there has been a surge of approximately 8.74%. Over the course of the year, Shoals Technologies Group Inc shares have dropped approximately -65.57%. Shares of the company reached a 52-week high of $17.50 on 02/12/24 and a 52-week low of $4.07 on 11/20/24. A 50-day SMA is recorded $5.02, while a 200-day SMA reached $6.71. Nevertheless, trading volume fell to 2.14 million shares from 4.52 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 5.26, which, if violated, would cause prices to drop to 5.12. In the upper region, resistance lies at 5.49. The next price resistance is at 5.58. RSI (Relative Strength Index) is 57.73 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.60, which suggests the price will decrease in the coming days. Percent R is at 7.06%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
