Shoals Technologies Group (NASDAQ:SHLS) Now Covered by Analysts at Wolfe Research

Wolfe Research began coverage on shares of Shoals Technologies Group (NASDAQ:SHLS) in a report issued on Tuesday, Marketbeat reports. The firm issued a peer perform rating on the stock.

Other analysts have also recently issued reports about the stock. Bank of America assumed coverage on shares of Shoals Technologies Group in a report on Monday, November 25th. They issued a “buy” rating and a $6.00 price target on the stock. TD Cowen boosted their price objective on shares of Shoals Technologies Group from $9.50 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group cut their price target on Shoals Technologies Group from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Piper Sandler lowered their price objective on Shoals Technologies Group from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Finally, Truist Financial reduced 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 report on Thursday, January 16th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $9.48.

Shoals Technologies Group Trading Up 3.0 %

NASDAQ SHLS opened at $4.08 on Tuesday. 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 has a 52 week low of $3.83 and a 52 week high of $16.19. The company’s fifty day simple moving average is $4.91 and its 200-day simple moving average is $5.20. The stock has a market cap of $680.14 million, a P/E ratio of 20.40, a PEG ratio of 0.53 and a beta of 1.62.

Insider Activity at Shoals Technologies Group

In related news, CEO Brandon Moss bought 22,300 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were bought at an average cost of $4.55 per share, with a total value of $101,465.00. Following the completion of the transaction, the chief executive officer now directly owns 593,700 shares of the company’s stock, valued at approximately $2,701,335. This trade represents a 3.90 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 6,460 shares of company stock valued at $30,271 over the last ninety days. 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 increased its position 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 acquiring an additional 1,906 shares in the last quarter. Empirical Asset Management LLC acquired a new stake in Shoals Technologies Group during the 4th quarter valued at $59,000. TrinityPoint Wealth LLC purchased a new stake in shares of Shoals Technologies Group in the third quarter valued at $60,000. 49 Wealth Management LLC acquired a new stake in shares of Shoals Technologies Group in the fourth quarter worth $74,000. Finally, State of Wyoming grew its holdings in shares of Shoals Technologies Group by 250.7% during the fourth quarter. State of Wyoming now owns 15,117 shares of the company’s stock valued at $84,000 after buying an additional 10,806 shares in the last quarter.

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.