Shoals Technologies Group (NASDAQ:SHLS) Price Target Lowered to $9.00 at The Goldman Sachs Group

Shoals Technologies Group (NASDAQ:SHLS) had its target price reduced by research analysts at The Goldman Sachs Group from $10.00 to $9.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 115.83% from the company’s current price.

A number of other analysts have also issued reports on SHLS. Barclays dropped their target price on Shoals Technologies Group from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 13th. Citigroup raised Shoals Technologies Group from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $5.00 to $5.50 in a research report on Thursday, October 3rd. TD Cowen lifted their target price on Shoals Technologies Group from $9.50 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Roth Mkm dropped their target price on Shoals Technologies Group from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Finally, Jefferies Financial Group initiated coverage on Shoals Technologies Group in a research report on Wednesday, September 4th. They set a “hold” rating and a $5.00 target price on the stock. Three research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $10.64.

Shoals Technologies Group Trading Down 5.4 %

NASDAQ:SHLS opened at $4.17 on Tuesday. The business’s 50-day moving average is $5.04 and its two-hundred day moving average is $5.74. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.08 and a quick ratio of 1.36. Shoals Technologies Group has a 12 month low of $4.07 and a 12 month high of $17.50. The firm has a market capitalization of $695.14 million, a PE ratio of 20.85, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.02). Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The company had revenue of $102.20 million during the quarter, compared to analysts’ expectations of $98.86 million. During the same period last year, the business earned $0.16 earnings per share. The company’s revenue for the quarter was down 23.8% compared to the same quarter last year. Research analysts predict that Shoals Technologies Group will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Shoals Technologies Group

In other Shoals Technologies Group news, CEO Brandon Moss acquired 22,300 shares of Shoals Technologies Group stock in a transaction dated Thursday, November 21st. The stock was acquired at an average cost of $4.55 per share, for a total transaction of $101,465.00. Following the completion of the transaction, the chief executive officer now owns 593,700 shares in the company, valued at approximately $2,701,335. This represents a 3.90 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 6,460 shares of company stock worth $30,271 over the last ninety days. Company insiders own 1.67% of the company’s stock.

Hedge Funds Weigh In On Shoals Technologies Group

Several hedge funds and other institutional investors have recently made changes to their positions in SHLS. SG Americas Securities LLC boosted its position in shares of Shoals Technologies Group by 169.4% during the second quarter. SG Americas Securities LLC now owns 36,993 shares of the company’s stock worth $231,000 after buying an additional 23,260 shares during the period. Assenagon Asset Management S.A. raised its holdings in Shoals Technologies Group by 1,796.9% during the second quarter. Assenagon Asset Management S.A. now owns 478,784 shares of the company’s stock worth $2,988,000 after purchasing an additional 453,543 shares in the last quarter. Pallas Capital Advisors LLC bought a new stake in Shoals Technologies Group during the second quarter worth approximately $90,000. 1620 Investment Advisors Inc. bought a new stake in Shoals Technologies Group during the second quarter worth approximately $54,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Shoals Technologies Group by 48.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 155,469 shares of the company’s stock worth $970,000 after purchasing an additional 51,058 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.