Shoals Technologies Group (NASDAQ:SHLS) Shares Up 7.2%

Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) rose 7.2% during mid-day trading on Tuesday . The stock traded as high as $9.05 and last traded at $9.04. Approximately 441,930 shares were traded during trading, a decline of 89% from the average daily volume of 3,844,851 shares. The stock had previously closed at $8.43.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SHLS. Barclays lowered their price target on Shoals Technologies Group from $15.00 to $13.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 5th. TD Cowen lowered their price target on Shoals Technologies Group from $30.00 to $22.00 and set an "outperform" rating on the stock in a report on Thursday, February 29th. The Goldman Sachs Group reduced their target price on Shoals Technologies Group from $26.00 to $23.00 and set a "buy" rating on the stock in a research note on Friday, March 1st. Oppenheimer reduced their target price on Shoals Technologies Group from $42.00 to $17.00 and set an "outperform" rating on the stock in a research note on Thursday, February 29th. Finally, Janney Montgomery Scott assumed coverage on Shoals Technologies Group in a research note on Friday, January 19th. They issued a "buy" rating and a $20.00 target price on the stock. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Shoals Technologies Group has a consensus rating of "Moderate Buy" and an average price target of $20.94.

Shoals Technologies Group Trading Up 0.4 %

The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 34.44 and a beta of 1.79. 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 business has a fifty day moving average price of $12.20 and a 200 day moving average price of $13.86.

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). The firm had revenue of $130.44 million for the quarter, compared to analyst estimates of $131.89 million. Shoals Technologies Group had a return on equity of 16.02% and a net margin of 8.18%. As a group, equities analysts forecast that Shoals Technologies Group, Inc. will post 0.51 earnings per share for the current year.

Institutional Trading of Shoals Technologies Group

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Shoals Technologies Group by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 16,360,439 shares of the company's stock valued at $254,241,000 after purchasing an additional 225,464 shares in the last quarter. Wellington Management Group LLP increased its holdings in Shoals Technologies Group by 28.5% in the 4th quarter. Wellington Management Group LLP now owns 12,910,322 shares of the company's stock valued at $200,626,000 after purchasing an additional 2,864,879 shares in the last quarter. Clearbridge Investments LLC grew its stake in shares of Shoals Technologies Group by 2.7% during the fourth quarter. Clearbridge Investments LLC now owns 8,976,984 shares of the company's stock valued at $139,502,000 after acquiring an additional 233,377 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Shoals Technologies Group by 28.2% during the third quarter. JPMorgan Chase & Co. now owns 6,368,077 shares of the company's stock valued at $116,217,000 after acquiring an additional 1,402,419 shares in the last quarter. Finally, William Blair Investment Management LLC grew its stake in shares of Shoals Technologies Group by 25.1% during the third quarter. William Blair Investment Management LLC now owns 5,934,781 shares of the company's stock valued at $108,310,000 after acquiring an additional 1,190,411 shares in the last quarter.

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.