Shoals Technologies Group (NASDAQ:SHLS) Given New $7.00 Price Target at Royal Bank of Canada

Shoals Technologies Group (NASDAQ:SHLS) had its price target lowered by Royal Bank of Canada from $9.00 to $7.00 in a research report released on Wednesday,Benzinga reports. The firm currently has an outperform rating on the stock.

SHLS has been the topic of several other reports. Barclays cut their target price on shares of Shoals Technologies Group from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. TD Cowen increased their target price on shares of Shoals Technologies Group from $9.50 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Mizuho cut their target price on shares of Shoals Technologies Group from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Guggenheim dropped their price objective on shares of 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. Finally, Wolfe Research initiated coverage on shares of Shoals Technologies Group in a research note on Tuesday, February 18th. They issued a “peer perform” rating on the stock. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $8.95.

Shoals Technologies Group Trading Down 8.9 %

SHLS opened at $3.88 on Wednesday. The stock has a market cap of $646.79 million, a PE ratio of 19.40, a price-to-earnings-growth ratio of 0.52 and a beta of 1.62. Shoals Technologies Group has a twelve month low of $3.73 and a twelve month high of $16.19. The company has a fifty day moving average of $4.89 and a 200-day moving average of $5.16. The company has a quick ratio of 1.36, a current ratio of 2.08 and a debt-to-equity ratio of 0.26.

Shoals Technologies Group (NASDAQ:SHLS) last issued its earnings results on Wednesday, February 26th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01). The company had revenue of $107.00 million for the quarter, compared to the consensus estimate of $102.16 million. Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. The firm’s revenue was down 17.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.12 earnings per share. On average, sell-side analysts predict that Shoals Technologies Group will post 0.29 EPS for the current year.

Institutional Trading of Shoals Technologies Group

Institutional investors and hedge funds have recently made changes to their positions in the company. American Trust purchased a new stake in Shoals Technologies Group during the fourth quarter worth about $72,000. 49 Wealth Management LLC purchased a new stake in Shoals Technologies Group during the fourth quarter worth about $74,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Shoals Technologies Group by 13.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 478,524 shares of the company’s stock worth $2,646,000 after buying an additional 56,176 shares during the last quarter. Two Sigma Investments LP increased its holdings in Shoals Technologies Group by 40.6% during the fourth quarter. Two Sigma Investments LP now owns 657,589 shares of the company’s stock worth $3,636,000 after buying an additional 189,754 shares during the last quarter. Finally, State of Wyoming increased its holdings in Shoals Technologies Group by 250.7% during the fourth quarter. State of Wyoming now owns 15,117 shares of the company’s stock worth $84,000 after buying an additional 10,806 shares during 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.