Shoals Technologies Group, Inc. (NASDAQ:SHLS) Given Average Rating of “Hold” by Analysts

Shoals Technologies Group, Inc. (NASDAQ:SHLS) has received a consensus rating of “Hold” from the twenty-three analysts that are covering the company, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $8.87.

SHLS has been the topic of a number of research analyst reports. Barclays reduced their target price on 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. Piper Sandler reduced their target price on Shoals Technologies Group from $8.00 to $6.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Royal Bank of Canada reduced their target price on Shoals Technologies Group from $9.00 to $7.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Morgan Stanley raised Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and set a $7.00 target price on the stock in a research note on Tuesday, December 17th. Finally, Truist Financial cut their price target on shares of Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, January 16th.

Insider Transactions at Shoals Technologies Group

In related news, CEO Brandon Moss sold 21,700 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $3.07, for a total value of $66,619.00. Following the completion of the transaction, the chief executive officer now directly owns 1,051,303 shares of the company’s stock, valued at $3,227,500.21. This represents a 2.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders sold 40,575 shares of company stock worth $123,957. Company insiders own 1.67% of the company’s stock.

Hedge Funds Weigh In On Shoals Technologies Group

A number of institutional investors have recently bought and sold shares of the stock. FMR LLC raised its stake in 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 in the last quarter. Van ECK Associates Corp raised its stake in Shoals Technologies Group by 1.9% in the third quarter. Van ECK Associates Corp now owns 131,808 shares of the company’s stock worth $739,000 after buying an additional 2,517 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Shoals Technologies Group by 20.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 15,525 shares of the company’s stock worth $86,000 after buying an additional 2,652 shares in the last quarter. Maven Securities LTD raised its stake in Shoals Technologies Group by 11.1% in the fourth quarter. Maven Securities LTD now owns 50,000 shares of the company’s stock worth $276,000 after buying an additional 5,000 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in Shoals Technologies Group by 2.3% in the third quarter. Janus Henderson Group PLC now owns 294,598 shares of the company’s stock worth $1,653,000 after buying an additional 6,503 shares in the last quarter.

Shoals Technologies Group Stock Performance

Shoals Technologies Group stock opened at $3.26 on Friday. The stock has a market cap of $543.44 million, a P/E ratio of 16.30, a PEG ratio of 0.52 and a beta of 1.69. Shoals Technologies Group has a fifty-two week low of $2.71 and a fifty-two week high of $12.98. The firm’s fifty day moving average price is $4.30 and its 200-day moving average price is $4.97. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 2.08.

Shoals Technologies Group (NASDAQ:SHLS) last released its earnings results on Wednesday, February 26th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The firm had revenue of $107.00 million during the quarter, compared to the consensus estimate of $102.16 million. Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. 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 EPS. Equities research analysts forecast that Shoals Technologies Group will post 0.29 earnings per share for the current fiscal year.

About Shoals Technologies Group

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.