Shoals Technologies Group (NASDAQ:SHLS) Given New $6.00 Price Target at Roth Mkm

Shoals Technologies Group (NASDAQ:SHLS) had its price target trimmed by Roth Mkm from $7.00 to $6.00 in a research note published on Friday, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other brokerages have also weighed in on SHLS. UBS Group decreased their price objective on Shoals Technologies Group from $12.00 to $9.00 and set a buy rating on the stock in a report on Wednesday, August 7th. Roth Capital downgraded shares of Shoals Technologies Group from a hold rating to a strong sell rating in a research note on Wednesday, August 7th. BNP Paribas lowered shares of Shoals Technologies Group from an outperform rating to a neutral rating and lowered their price target for the stock from $15.00 to $7.00 in a research report on Wednesday, August 7th. Citigroup downgraded shares of Shoals Technologies Group from a buy rating to a sell rating and cut their price objective for the company from $15.00 to $5.00 in a report on Tuesday, July 2nd. Finally, Royal Bank of Canada restated an outperform rating and set a $11.00 target price on shares of Shoals Technologies Group in a report on Friday. Four analysts have rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $11.06.

Shoals Technologies Group Stock Up 3.1 %

SHLS stock opened at $5.65 on Friday. Shoals Technologies Group has a 52 week low of $4.88 and a 52 week high of $22.40. The company has a quick ratio of 1.50, a current ratio of 2.26 and a debt-to-equity ratio of 0.27. The firm has a 50-day simple moving average of $5.92 and a 200-day simple moving average of $8.25. The stock has a market capitalization of $962.87 million, a P/E ratio of 31.39, a P/E/G ratio of 0.73 and a beta of 1.74.

Shoals Technologies Group (NASDAQ:SHLS) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.08 by $0.02. The company had revenue of $99.25 million during the quarter, compared to analyst estimates of $90.57 million. Shoals Technologies Group had a return on equity of 12.75% and a net margin of 5.13%. Shoals Technologies Group’s quarterly revenue was down 16.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.12 EPS. Equities analysts forecast that Shoals Technologies Group will post 0.31 earnings per share for the current fiscal year.

Institutional Trading of Shoals Technologies Group

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Shoals Technologies Group by 1.0% in the first quarter. Vanguard Group Inc. now owns 16,531,712 shares of the company’s stock valued at $184,825,000 after buying an additional 171,273 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Shoals Technologies Group by 28.5% during the fourth quarter. Wellington Management Group LLP now owns 12,910,322 shares of the company’s stock worth $200,626,000 after purchasing an additional 2,864,879 shares in the last quarter. William Blair Investment Management LLC boosted its stake 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 purchasing an additional 4,263,964 shares during the period. Clearbridge Investments LLC increased its stake in Shoals Technologies Group by 2.7% during the 4th quarter. Clearbridge Investments LLC now owns 8,976,984 shares of the company’s stock worth $139,502,000 after buying an additional 233,377 shares during the period. Finally, Joho Capital LLC lifted its holdings in Shoals Technologies Group by 111.6% during the 1st quarter. Joho Capital LLC now owns 6,423,545 shares of the company’s stock worth $71,815,000 after buying an additional 3,387,539 shares in the last quarter.

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.