Shoals Technologies Group (NASDAQ:SHLS) Shares Gap Down - What's Next?

Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $4.73, but opened at $4.23. Shoals Technologies Group shares last traded at $4.08, with a volume of 1,687,966 shares.

Analysts Set New Price Targets

SHLS has been the subject of several research analyst reports. Mizuho increased their price objective on Shoals Technologies Group from $6.00 to $7.00 and gave the stock an "outperform" rating in a report on Monday, June 2nd. Guggenheim lifted their target price on shares of Shoals Technologies Group from $5.00 to $6.00 and gave the company a "buy" rating in a research note on Friday, May 9th. The Goldman Sachs Group boosted their price target on shares of Shoals Technologies Group from $5.00 to $6.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Citigroup increased their target price on Shoals Technologies Group from $4.50 to $5.50 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Finally, BNP Paribas restated an "underperform" rating and set a $4.00 price target (down from $4.50) on shares of Shoals Technologies Group in a research report on Thursday, May 15th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $8.45.

Shoals Technologies Group Price Performance

The stock has a market capitalization of $710.52 million, a PE ratio of 35.42, a price-to-earnings-growth ratio of 0.64 and a beta of 1.63. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.34 and a quick ratio of 1.58. The stock's 50 day moving average is $4.64 and its two-hundred day moving average is $4.34.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.02 EPS 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 quarterly revenue was down 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 EPS. As a group, sell-side analysts forecast that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Institutional Trading of Shoals Technologies Group

A number of institutional investors have recently modified their holdings of SHLS. Tower Research Capital LLC TRC increased its position in shares of Shoals Technologies Group by 20.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 15,525 shares of the company's stock valued at $86,000 after buying an additional 2,652 shares in the last quarter. Stratos Wealth Partners LTD. increased its position in Shoals Technologies Group by 17.2% during the 1st quarter. Stratos Wealth Partners LTD. now owns 23,313 shares of the company's stock worth $77,000 after purchasing an additional 3,415 shares in the last quarter. Maven Securities LTD boosted its stake in shares of Shoals Technologies Group by 11.1% during the 4th 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. Rhumbline Advisers lifted its stake in shares of Shoals Technologies Group by 2.5% during the 1st quarter. Rhumbline Advisers now owns 248,924 shares of the company's stock worth $826,000 after purchasing an additional 6,112 shares during the period. Finally, Barclays PLC boosted its holdings in shares of Shoals Technologies Group by 3.3% during the fourth quarter. Barclays PLC now owns 300,910 shares of the company's stock worth $1,665,000 after purchasing an additional 9,668 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.