Analysts Set Shoals Technologies Group, Inc. (NASDAQ:SHLS) PT at $10.60

Shoals Technologies Group, Inc. (NASDAQ:SHLS) has been given an average recommendation of “Hold” by the twenty-two brokerages that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and thirteen have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $9.93.

SHLS has been the topic of a number of recent research reports. The Goldman Sachs Group cut their target price on Shoals Technologies Group from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday. Guggenheim cut their target price on Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Piper Sandler cut their target price on Shoals Technologies Group from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Truist Financial dropped their price objective on Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Finally, Morgan Stanley raised Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and set a $7.00 price objective on the stock in a research report on Tuesday, December 17th.

Shoals Technologies Group Price Performance

SHLS opened at $4.67 on Friday. Shoals Technologies Group has a 12-month low of $4.07 and a 12-month high of $17.50. The company has a market cap of $778.49 million, a price-to-earnings ratio of 23.35, a price-to-earnings-growth ratio of 0.54 and a beta of 1.64. The stock has a fifty day simple moving average of $5.05 and a two-hundred day simple moving average of $5.49. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26.

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

Insider Transactions at Shoals Technologies Group

In related news, CEO Brandon Moss acquired 22,300 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were purchased at an average price of $4.55 per share, with a total value of $101,465.00. Following the completion of the purchase, the chief executive officer now directly owns 593,700 shares of the company’s stock, valued at $2,701,335. This represents a 3.90 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 6,460 shares of company stock valued at $30,271 over the last quarter. 1.67% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SHLS. FMR LLC raised its stake in shares of Shoals Technologies Group by 48.9% in the third quarter. FMR LLC now owns 5,806 shares of the company’s stock worth $33,000 after buying an additional 1,906 shares during the period. Empirical Asset Management LLC bought a new stake in Shoals Technologies Group during the 4th quarter valued at approximately $59,000. TrinityPoint Wealth LLC bought a new stake in Shoals Technologies Group during the 3rd quarter valued at approximately $60,000. Mackenzie Financial Corp bought a new stake in Shoals Technologies Group during the 2nd quarter valued at approximately $64,000. Finally, American Trust bought a new stake in Shoals Technologies Group during the 2nd quarter valued at approximately $68,000.

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.