Shoals Technologies Group (NASDAQ:SHLS) Trading Down 4.5%

Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report)'s stock price was down 4.5% on Monday . The stock traded as low as $8.74 and last traded at $8.76. Approximately 680,253 shares were traded during trading, a decline of 82% from the average daily volume of 3,784,520 shares. The stock had previously closed at $9.17.

Analysts Set New Price Targets

A number of research analysts have commented on SHLS shares. Barclays decreased their price objective 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. Mizuho reiterated a "buy" rating and issued a $18.00 price objective (down previously from $19.00) on shares of Shoals Technologies Group in a research note on Thursday, February 29th. UBS Group lowered their target price on shares of Shoals Technologies Group from $28.00 to $20.00 and set a "buy" rating on the stock in a report on Friday, March 1st. JPMorgan Chase & Co. dropped their price objective 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. Finally, Janney Montgomery Scott initiated coverage on Shoals Technologies Group in a report on Friday, January 19th. They set a "buy" rating and a $20.00 target price on the stock. Three equities research 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, the stock has an average rating of "Moderate Buy" and a consensus price target of $21.06.

Shoals Technologies Group Stock Down 4.9 %

The company has a current ratio of 2.45, a quick ratio of 1.88 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $1.49 billion, a P/E ratio of 36.68 and a beta of 1.79. The stock has a 50 day moving average price of $13.06 and a 200 day moving average price of $14.23.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last posted its earnings results on Wednesday, February 28th. The company reported $0.11 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $130.44 million during the quarter, compared to the consensus estimate of $131.89 million. On average, research analysts anticipate that Shoals Technologies Group, Inc. will post 0.51 earnings per share for the current fiscal year.

Institutional Trading of Shoals Technologies Group

Several institutional investors have recently modified their holdings of the business. IFP Advisors Inc grew its position 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 valued at $31,000 after buying an additional 518 shares during the last quarter. Assetmark Inc. lifted its position 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 purchasing an additional 765 shares during the period. Toroso Investments LLC bought a new stake in shares of Shoals Technologies Group in the 3rd quarter valued at $44,000. MetLife Investment Management LLC acquired a new stake in shares of Shoals Technologies Group during the first quarter worth $36,000. Finally, ANTIPODES PARTNERS Ltd bought a new position in Shoals Technologies Group during the fourth quarter worth $33,000.

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.