Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS – Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $6.07 and last traded at $6.14, with a volume of 1273468 shares changing hands. The stock had previously closed at $6.24.
Analyst Ratings Changes
A number of brokerages have recently weighed in on SHLS. TD Cowen reduced their price target on shares of Shoals Technologies Group from $15.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Barclays reduced their price target on shares of Shoals Technologies Group from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 9th. Cantor Fitzgerald reduced their price target on shares of Shoals Technologies Group from $24.00 to $14.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. Citigroup cut shares of Shoals Technologies Group from a “buy” rating to a “sell” rating and reduced their price target for the stock from $15.00 to $5.00 in a research report on Tuesday. Finally, Mizuho reduced their price target on shares of Shoals Technologies Group from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned 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 price target of $16.06.
View Our Latest Research Report on Shoals Technologies Group
Shoals Technologies Group Stock Down 1.8 %
Shoals Technologies Group (NASDAQ:SHLS – Get Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. Shoals Technologies Group had a net margin of 6.42% and a return on equity of 13.95%. The firm had revenue of $90.81 million for the quarter, compared to analyst estimates of $94.44 million. Equities analysts expect that Shoals Technologies Group, Inc. will post 0.44 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of SHLS. ANTIPODES PARTNERS Ltd acquired a new position in shares of Shoals Technologies Group during the 4th quarter worth about $33,000. Headlands Technologies LLC bought a new stake in Shoals Technologies Group in the 1st quarter valued at about $92,000. iA Global Asset Management Inc. bought a new stake in Shoals Technologies Group in the 3rd quarter valued at about $102,000. Paloma Partners Management Co bought a new stake in Shoals Technologies Group in the 1st quarter valued at about $115,000. Finally, Harbour Capital Advisors LLC bought a new stake in Shoals Technologies Group in the 1st quarter valued at about $138,000.
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.
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