Shoals Technologies Group (NASDAQ:SHLS) Reaches New 1-Year Low at $8.48

Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) shares reached a new 52-week low during trading on Tuesday . The company traded as low as $8.48 and last traded at $8.55, with a volume of 320450 shares changing hands. The stock had previously closed at $8.72.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SHLS shares. UBS Group lowered their price target on Shoals Technologies Group from $28.00 to $20.00 and set a "buy" rating for the company in a research report on Friday, March 1st. TD Cowen lowered their price target on Shoals Technologies Group from $30.00 to $22.00 and set an "outperform" rating for the company in a research report on Thursday, February 29th. Barclays lowered their price target on Shoals Technologies Group from $15.00 to $13.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 5th. The Goldman Sachs Group lowered their price target on Shoals Technologies Group from $26.00 to $23.00 and set a "buy" rating for the company in a research report on Friday, March 1st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $24.00 price target on shares of Shoals Technologies Group in a research report on Wednesday, March 13th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $21.06.

Shoals Technologies Group Trading Down 4.2 %

The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.88 and a current ratio of 2.45. The company has a market cap of $1.42 billion, a P/E ratio of 33.40 and a beta of 1.79. The stock has a 50-day moving average of $12.83 and a two-hundred day moving average of $14.08.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.04). The company had revenue of $130.44 million for the quarter, compared to the consensus estimate of $131.89 million. Shoals Technologies Group had a net margin of 8.18% and a return on equity of 16.02%. On average, equities research analysts predict that Shoals Technologies Group, Inc. will post 0.51 earnings per share for the current year.

Institutional Trading of Shoals Technologies Group

Institutional investors and hedge funds have recently modified their holdings of the business. Assetmark Inc. boosted its stake in shares of Shoals Technologies Group by 92.7% in the 3rd quarter. Assetmark Inc. now owns 1,590 shares of the company's stock worth $29,000 after buying an additional 765 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Shoals Technologies Group by 73.5% in the 2nd quarter. IFP Advisors Inc now owns 1,223 shares of the company's stock worth $31,000 after buying an additional 518 shares during the last quarter. ANTIPODES PARTNERS Ltd purchased a new position in shares of Shoals Technologies Group in the 4th quarter worth $33,000. MetLife Investment Management LLC purchased a new position in shares of Shoals Technologies Group in the 1st quarter worth $36,000. Finally, Toroso Investments LLC purchased a new position in shares of Shoals Technologies Group in the 3rd quarter worth $44,000.

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.