Roth Mkm Cuts Shoals Technologies Group (NASDAQ:SHLS) Price Target to $4.50

Shoals Technologies Group (NASDAQ:SHLS) had its target price reduced by Roth Mkm from $5.00 to $4.50 in a report published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. lowered their price objective on Shoals Technologies Group from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Bank of America began coverage on Shoals Technologies Group in a research note on Monday, November 25th. They set a “buy” rating and a $6.00 price objective on the stock. The Goldman Sachs Group lowered their price objective on Shoals Technologies Group from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Truist Financial lowered their price objective on Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, Oppenheimer lowered their price objective on Shoals Technologies Group from $11.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 28th. 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 stock. According to MarketBeat.com, Shoals Technologies Group has an average rating of “Hold” and an average target price of $8.95.

Shoals Technologies Group Stock Performance

Shares of NASDAQ:SHLS opened at $3.03 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.08 and a quick ratio of 1.36. The business’s 50 day moving average price is $4.83 and its 200-day moving average price is $5.14. The firm has a market capitalization of $505.10 million, a PE ratio of 15.15, a P/E/G ratio of 0.52 and a beta of 1.62. Shoals Technologies Group has a 1 year low of $2.91 and a 1 year high of $13.82.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.08 earnings per share (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 analyst estimates of $102.16 million. Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. The business’s revenue was down 17.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.12 earnings per share. As a group, equities research analysts expect that Shoals Technologies Group will post 0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shoals Technologies Group

Institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in shares of Shoals Technologies Group by 14.6% in the 3rd quarter. Wellington Management Group LLP now owns 13,107,404 shares of the company’s stock valued at $73,533,000 after buying an additional 1,666,691 shares during the period. Point72 Europe London LLP purchased a new stake in shares of Shoals Technologies Group in the 3rd quarter valued at $1,461,000. Erste Asset Management GmbH purchased a new stake in Shoals Technologies Group during the 3rd quarter worth about $20,191,000. Impax Asset Management Group plc increased its holdings in Shoals Technologies Group by 126.3% during the 4th quarter. Impax Asset Management Group plc now owns 3,469,360 shares of the company’s stock worth $19,083,000 after purchasing an additional 1,935,983 shares during the period. Finally, Roubaix Capital LLC purchased a new stake in Shoals Technologies Group during the 3rd quarter worth about $2,156,000.

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.