Mizuho Reaffirms Neutral Rating for Shoals Technologies Group (NASDAQ:SHLS)

Mizuho reiterated their neutral rating on shares of Shoals Technologies Group (NASDAQ:SHLS - Free Report) in a report published on Monday, MarketBeat Ratings reports. They currently have a $7.00 price objective on the stock.

SHLS has been the topic of a number of other reports. Jefferies Financial Group upgraded shares of Shoals Technologies Group from a "hold" rating to a "buy" rating and raised their target price for the company from $4.90 to $7.20 in a research note on Monday, July 7th. BNP Paribas reiterated an "underperform" rating and set a $4.00 price target (down previously from $4.50) on shares of Shoals Technologies Group in a research note on Thursday, May 15th. Guggenheim raised their target price 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. Citigroup lifted their target price on shares of Shoals Technologies Group from $4.50 to $5.50 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Finally, BNP Paribas Exane lowered shares of Shoals Technologies Group from a "neutral" rating to an "underperform" rating and set a $4.00 price objective on the stock. in a report on Thursday, May 15th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Shoals Technologies Group has a consensus rating of "Hold" and an average price target of $8.63.

Shoals Technologies Group Stock Down 1.7%

NASDAQ SHLS traded down $0.10 during trading on Monday, reaching $5.75. 5,321,411 shares of the company's stock were exchanged, compared to its average volume of 6,636,886. The company's fifty day simple moving average is $5.05 and its 200-day simple moving average is $4.39. Shoals Technologies Group has a fifty-two week low of $2.71 and a fifty-two week high of $7.08. The firm has a market capitalization of $961.29 million, a PE ratio of 47.92, a P/E/G ratio of 0.79 and a beta of 1.59. The company has a current ratio of 2.34, a quick ratio of 1.58 and a debt-to-equity ratio of 0.25.

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

Institutional Investors Weigh In On Shoals Technologies Group

Several large investors have recently modified their holdings of the business. Tower Research Capital LLC TRC increased its stake in shares of Shoals Technologies Group by 20.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,525 shares of the company's stock worth $86,000 after purchasing an additional 2,652 shares during the period. Stratos Wealth Partners LTD. raised its position in shares of Shoals Technologies Group by 17.2% in the 1st quarter. Stratos Wealth Partners LTD. now owns 23,313 shares of the company's stock valued at $77,000 after buying an additional 3,415 shares in the last quarter. Maven Securities LTD lifted its stake in Shoals Technologies Group by 11.1% during the fourth quarter. Maven Securities LTD now owns 50,000 shares of the company's stock worth $276,000 after purchasing an additional 5,000 shares during the last quarter. Pallas Capital Advisors LLC boosted its stake in Shoals Technologies Group by 27.7% in the second quarter. Pallas Capital Advisors LLC now owns 24,517 shares of the company's stock valued at $104,000 after buying an additional 5,320 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in Shoals Technologies Group by 2.5% in the 1st quarter. Rhumbline Advisers now owns 248,924 shares of the company's stock valued at $826,000 after purchasing an additional 6,112 shares during 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.