Barclays Trims Shoals Technologies Group (NASDAQ:SHLS) Target Price to $12.00

Shoals Technologies Group (NASDAQ:SHLS - Free Report) had its price objective trimmed by Barclays from $13.00 to $12.00 in a research note published on Thursday, Benzinga reports. The firm currently has an equal weight rating on the stock.

SHLS has been the subject of several other reports. Roth Mkm downgraded Shoals Technologies Group from a buy rating to a neutral rating and lowered their price target for the stock from $15.00 to $8.00 in a report on Wednesday. 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 report on Friday, March 1st. JPMorgan Chase & Co. lowered their price target on Shoals Technologies Group from $32.00 to $26.00 and set an overweight rating for the company in a report on Thursday, February 29th. Roth Capital downgraded Shoals Technologies Group from a buy rating to a neutral rating in a report on Tuesday. Finally, Mizuho dropped their target price on Shoals Technologies Group from $16.00 to $13.00 and set a buy rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Shoals Technologies Group has an average rating of Moderate Buy and a consensus target price of $18.00.

Shoals Technologies Group Trading Up 2.2 %

NASDAQ SHLS traded up $0.17 on Thursday, reaching $7.68. The company had a trading volume of 5,620,186 shares, compared to its average volume of 3,975,828. The stock's 50 day moving average is $10.50 and its 200-day moving average is $13.25. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 30.20 and a beta of 1.86. The company has a quick ratio of 1.88, a current ratio of 2.45 and a debt-to-equity ratio of 0.33. Shoals Technologies Group has a 52 week low of $7.27 and a 52 week high of $28.34.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.04). Shoals Technologies Group had a net margin of 8.18% and a return on equity of 16.02%. The company had revenue of $130.44 million during the quarter, compared to the consensus estimate of $131.89 million. Equities analysts predict that Shoals Technologies Group will post 0.5 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Assetmark Inc. boosted its stake in shares of Shoals Technologies Group by 92.7% during the 3rd quarter. Assetmark Inc. now owns 1,590 shares of the company's stock worth $29,000 after acquiring an additional 765 shares during the period. ANTIPODES PARTNERS Ltd bought a new position in shares of Shoals Technologies Group during the 4th quarter worth approximately $33,000. Headlands Technologies LLC boosted its stake in shares of Shoals Technologies Group by 101.4% during the 3rd quarter. Headlands Technologies LLC now owns 4,459 shares of the company's stock worth $81,000 after acquiring an additional 2,245 shares during the period. Trium Capital LLP bought a new stake in Shoals Technologies Group in the 3rd quarter valued at $93,000. Finally, iA Global Asset Management Inc. bought a new stake in Shoals Technologies Group in the 3rd quarter valued at $102,000.

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.