Roth Mkm Lowers Shoals Technologies Group (NASDAQ:SHLS) to Neutral

Roth Mkm downgraded shares of Shoals Technologies Group (NASDAQ:SHLS) from a buy rating to a neutral rating in a report released on Wednesday morning, Marketbeat Ratings reports. Roth Mkm currently has $8.00 target price on the stock, down from their previous target price of $15.00.

SHLS has been the subject of several other reports. Cantor Fitzgerald restated an overweight rating and set a $24.00 price target on shares of Shoals Technologies Group in a report on Wednesday, March 13th. UBS Group lowered their price target on shares of Shoals Technologies Group from $28.00 to $20.00 and set a buy rating on the stock in a report on Friday, March 1st. JPMorgan Chase & Co. cut their price objective on Shoals Technologies Group from $32.00 to $26.00 and set an overweight rating for the company in a report on Thursday, February 29th. Oppenheimer reduced their price objective on Shoals Technologies Group from $42.00 to $17.00 and set an outperform rating for the company in a research report on Thursday, February 29th. Finally, TD Cowen dropped their target price on Shoals Technologies Group from $30.00 to $22.00 and set an outperform rating on the stock in a research report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $18.06.

Shoals Technologies Group Price Performance

Shares of NASDAQ:SHLS opened at $7.51 on Wednesday. The company’s fifty day moving average is $10.50 and its two-hundred day moving average is $13.25. The company has a market cap of $1.28 billion, a P/E ratio of 30.04 and a beta of 1.86. Shoals Technologies Group has a 12-month low of $7.27 and a 12-month high of $28.34. The company has a quick ratio of 1.88, a current ratio of 2.45 and a debt-to-equity ratio of 0.33.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.04). The business had revenue of $130.44 million for the quarter, compared to analysts’ expectations of $131.89 million. Shoals Technologies Group had a net margin of 8.18% and a return on equity of 16.02%. Equities analysts expect that Shoals Technologies Group will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shoals Technologies Group

Large investors have recently made changes to their positions in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Shoals Technologies Group by 30.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 5,102,882 shares of the company’s stock valued at $57,050,000 after buying an additional 1,179,834 shares during the last quarter. Edmond DE Rothschild Holding S.A. boosted its position in shares of Shoals Technologies Group by 9.9% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 220,181 shares of the company’s stock valued at $2,462,000 after acquiring an additional 19,879 shares during the period. William Blair Investment Management LLC boosted its position in shares of Shoals Technologies Group by 71.6% in the first quarter. William Blair Investment Management LLC now owns 10,221,644 shares of the company’s stock valued at $114,278,000 after acquiring an additional 4,263,964 shares during the period. ProShare Advisors LLC grew its stake in shares of Shoals Technologies Group by 6.3% in the first quarter. ProShare Advisors LLC now owns 41,051 shares of the company’s stock worth $459,000 after acquiring an additional 2,427 shares during the last quarter. Finally, Qsemble Capital Management LP increased its position in Shoals Technologies Group by 59.7% during the first quarter. Qsemble Capital Management LP now owns 58,113 shares of the company’s stock worth $650,000 after acquiring an additional 21,729 shares during the period.

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.