Shoals Technologies Group, Inc. (NASDAQ:SHLS) Given Average Rating of "Hold" by Analysts

Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) has been assigned a consensus rating of "Hold" from the twenty-three analysts that are currently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $8.45.

Several brokerages have recently commented on SHLS. BNP Paribas Exane cut Shoals Technologies Group from a "neutral" rating to an "underperform" rating and set a $4.00 target price for the company. in a research report on Thursday, May 15th. Guggenheim raised their price objective on Shoals Technologies Group from $5.00 to $6.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Roth Mkm lowered their target price on Shoals Technologies Group from $5.00 to $4.50 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Jefferies Financial Group dropped their target price on Shoals Technologies Group from $4.60 to $3.40 and set a "hold" rating on the stock in a report on Wednesday, March 12th. Finally, Royal Bank Of Canada decreased their price target on shares of Shoals Technologies Group from $9.00 to $7.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th.

Institutional Investors Weigh In On Shoals Technologies Group

Large investors have recently bought and sold shares of the business. Goodlander Investment Management LLC acquired a new stake in shares of Shoals Technologies Group in the fourth quarter worth about $8,295,000. Schonfeld Strategic Advisors LLC raised its stake in shares of Shoals Technologies Group by 189.1% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 123,695 shares of the company's stock valued at $684,000 after acquiring an additional 80,911 shares in the last quarter. Impax Asset Management Group plc lifted its holdings in Shoals Technologies Group by 126.3% in 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 last quarter. Ameriprise Financial Inc. lifted its holdings in Shoals Technologies Group by 45.3% in the 4th quarter. Ameriprise Financial Inc. now owns 1,882,420 shares of the company's stock worth $10,410,000 after purchasing an additional 587,235 shares during the last quarter. Finally, RWC Asset Management LLP bought a new stake in Shoals Technologies Group during the fourth quarter worth approximately $1,891,000.

Shoals Technologies Group Trading Down 0.8%

SHLS traded down $0.04 during trading on Monday, reaching $5.22. The company had a trading volume of 4,307,698 shares, compared to its average volume of 5,901,535. The firm's 50-day simple moving average is $4.42 and its 200 day simple moving average is $4.34. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.58 and a current ratio of 2.34. The company has a market cap of $872.65 million, a price-to-earnings ratio of 43.50, a PEG ratio of 0.72 and a beta of 1.64. Shoals Technologies Group has a 12-month low of $2.71 and a 12-month high of $7.08.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). Shoals Technologies Group had a return on equity of 7.63% and a net margin of 4.90%. The firm had revenue of $80.36 million during the quarter, compared to analyst estimates of $74.66 million. During the same quarter in the previous year, the business earned $0.07 earnings per share. The business's quarterly revenue was down 11.2% compared to the same quarter last year. Equities research analysts anticipate that Shoals Technologies Group will post 0.29 earnings per share for the current year.

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.