Shoals Technologies Group, Inc. (NASDAQ:SHLS – Get Free Report) shares rose 7.2% on Tuesday . The company traded as high as $9.05 and last traded at $9.04. Approximately 441,930 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 3,844,851 shares. The stock had previously closed at $8.43.
Analyst Ratings Changes
SHLS has been the topic of a number of research analyst reports. Janney Montgomery Scott initiated coverage on shares of Shoals Technologies Group in a research note on Friday, January 19th. They issued a “buy” rating and a $20.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on shares of Shoals Technologies Group from $32.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, February 29th. TD Cowen dropped their price objective on shares of Shoals Technologies Group from $30.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. Barclays dropped their price objective on shares of Shoals Technologies Group from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, March 5th. Finally, The Goldman Sachs Group dropped their price objective on shares of Shoals Technologies Group from $26.00 to $23.00 and set a “buy” rating for the company in a report on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Shoals Technologies Group currently has a consensus rating of “Moderate Buy” and an average target price of $20.94.
Get Our Latest Stock Analysis on Shoals Technologies Group
Shoals Technologies Group Trading Up 0.4 %
Shoals Technologies Group (NASDAQ:SHLS – Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.04). The company had revenue of $130.44 million for the quarter, compared to analyst estimates of $131.89 million. Shoals Technologies Group had a return on equity of 16.02% and a net margin of 8.18%. Equities research analysts expect that Shoals Technologies Group, Inc. will post 0.51 EPS for the current fiscal year.
Institutional Trading of Shoals Technologies Group
Large investors have recently modified their holdings of the stock. Assetmark Inc. grew its position in shares of Shoals Technologies Group by 92.7% during the 3rd quarter. Assetmark Inc. now owns 1,590 shares of the company’s stock worth $29,000 after buying an additional 765 shares during the period. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Shoals Technologies Group during the 4th quarter worth approximately $33,000. Exchange Traded Concepts LLC acquired a new stake in shares of Shoals Technologies Group during the 3rd quarter worth approximately $48,000. Headlands Technologies LLC grew its position in shares of Shoals Technologies Group by 101.4% during the 3rd quarter. Headlands Technologies LLC now owns 4,459 shares of the company’s stock worth $81,000 after buying an additional 2,245 shares during the period. Finally, Trium Capital LLP acquired a new stake in shares of Shoals Technologies Group during the 3rd quarter worth approximately $93,000.
Shoals Technologies Group Company Profile
Shoals Technologies Group, Inc provides electrical balance of system (EBOS) solutions and components for solar, battery energy, and electric vehicle (EV) charging applications in the United States and internationally. The company designs, manufactures, and sells system solutions for both homerun and combine-as-you-go wiring architectures, as well as offers technical support services.
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