Analysts Set Shoals Technologies Group, Inc. (NASDAQ:SHLS) PT at $10.64

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) have been given an average recommendation of “Hold” by the twenty-three ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $10.64.

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Shoals Technologies Group from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $11.00 price objective on shares of Shoals Technologies Group in a research note on Friday, September 6th. TD Cowen raised their target price on Shoals Technologies Group from $9.50 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Jefferies Financial Group began coverage on Shoals Technologies Group in a report on Wednesday, September 4th. They set a “hold” rating and a $5.00 target price for the company. Finally, Truist Financial lowered their price target on shares of Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, September 6th.

Insider Buying and Selling

In other Shoals Technologies Group news, CEO Brandon Moss purchased 22,300 shares of the business’s stock in a transaction on 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 directly 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 filing with the SEC, which is available at this hyperlink. Insiders sold 6,460 shares of company stock worth $30,271 in the last quarter. 0.36% of the stock is owned by insiders.

Institutional Investors Weigh In On Shoals Technologies Group

Several institutional investors have recently bought and sold shares of the stock. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in Shoals Technologies Group by 104.1% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 135,629 shares of the company’s stock worth $846,000 after acquiring an additional 69,193 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Shoals Technologies Group by 146.9% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 157,000 shares of the company’s stock worth $980,000 after purchasing an additional 93,400 shares during the period. Wellington Management Group LLP grew its stake in shares of Shoals Technologies Group by 14.6% in the third quarter. Wellington Management Group LLP now owns 13,107,404 shares of the company’s stock worth $73,533,000 after purchasing an additional 1,666,691 shares during the last quarter. Point72 Europe London LLP purchased a new position in Shoals Technologies Group during the 3rd quarter valued at about $1,461,000. Finally, Handelsbanken Fonder AB raised its position in Shoals Technologies Group by 34.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 2,711,603 shares of the company’s stock valued at $15,212,000 after purchasing an additional 690,344 shares during the last quarter.

Shoals Technologies Group Trading Down 1.5 %

Shares of SHLS opened at $5.39 on Monday. Shoals Technologies Group has a fifty-two week low of $4.07 and a fifty-two week high of $17.50. The business has a 50-day moving average of $5.03 and a 200 day moving average of $5.65. The firm has a market cap of $898.51 million, a P/E ratio of 26.95, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69. 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 posted its earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $102.20 million during the quarter, compared to analysts’ expectations of $98.86 million. During the same quarter in the previous year, the business earned $0.16 EPS. Shoals Technologies Group’s revenue for the quarter was down 23.8% on a year-over-year basis. As a group, research analysts forecast that Shoals Technologies Group will post 0.29 EPS for the current year.

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.