Oppenheimer Lowers Shoals Technologies Group (NASDAQ:SHLS) Price Target to $12.00

Shoals Technologies Group (NASDAQ:SHLS) had its price target cut by Oppenheimer from $14.00 to $12.00 in a report released on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other analysts have also issued reports on SHLS. Barclays dropped their target price on Shoals Technologies Group from $12.00 to $10.00 and set an equal weight rating on the stock in a research report on Thursday, July 18th. Roth Mkm lowered Shoals Technologies Group from a buy rating to a neutral rating and lowered their target price for the company from $15.00 to $8.00 in a report on Wednesday, May 8th. Cantor Fitzgerald lowered their target price on Shoals Technologies Group from $24.00 to $14.00 and set an overweight rating for the company in a report on Wednesday, May 8th. Piper Sandler lowered their target price on Shoals Technologies Group from $14.00 to $11.00 and set an overweight rating for the company in a report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. upped their target price on Shoals Technologies Group from $21.00 to $23.00 and gave the stock an overweight rating in a research report on Tuesday, July 16th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $11.76.

Shoals Technologies Group Trading Down 3.2 %

Shares of SHLS opened at $5.12 on Wednesday. The stock’s 50-day moving average is $6.45 and its two-hundred day moving average is $9.53. The stock has a market cap of $872.55 million, a PE ratio of 28.45 and a beta of 1.76. Shoals Technologies Group has a 12 month low of $4.88 and a 12 month high of $22.40. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.62 and a quick ratio of 1.87.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The company had revenue of $99.25 million for the quarter, compared to analysts’ expectations of $90.57 million. Shoals Technologies Group had a return on equity of 12.77% and a net margin of 5.13%. The firm’s quarterly revenue was down 16.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.12 earnings per share. Equities analysts forecast that Shoals Technologies Group will post 0.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shoals Technologies Group

Hedge funds have recently bought and sold shares of the company. ANTIPODES PARTNERS Ltd boosted its holdings in Shoals Technologies Group by 122.4% during the first quarter. ANTIPODES PARTNERS Ltd now owns 4,793 shares of the company’s stock valued at $54,000 after acquiring an additional 2,638 shares during the period. 1620 Investment Advisors Inc. bought a new stake in shares of Shoals Technologies Group in the second quarter valued at about $54,000. Versor Investments LP bought a new stake in shares of Shoals Technologies Group in the second quarter valued at about $80,000. Pallas Capital Advisors LLC bought a new stake in shares of Shoals Technologies Group in the second quarter valued at about $90,000. Finally, Headlands Technologies LLC bought a new stake in shares of Shoals Technologies Group in the first quarter valued at about $92,000.

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.