Shoals Technologies Group (NASDAQ:SHLS) Shares Down 5.8% - What's Next?

Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report)'s stock price was down 5.8% during mid-day trading on Friday . The company traded as low as $4.90 and last traded at $4.93. Approximately 2,528,670 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 5,888,455 shares. The stock had previously closed at $5.23.

Analyst Upgrades and Downgrades

SHLS has been the topic of a number of recent research reports. The Goldman Sachs Group upped their target price on shares of Shoals Technologies Group from $5.00 to $6.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Guggenheim raised their price objective on shares of Shoals Technologies Group from $5.00 to $6.00 and gave the stock a "buy" rating in a report on Friday, May 9th. BNP Paribas reissued an "underperform" rating and issued a $4.00 target price (down from $4.50) on shares of Shoals Technologies Group in a report on Thursday, May 15th. BNP Paribas Exane downgraded 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 research report on Thursday, May 15th. Finally, Royal Bank Of Canada dropped their target price on Shoals Technologies Group from $9.00 to $7.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Shoals Technologies Group has a consensus rating of "Hold" and an average target price of $8.45.

Shoals Technologies Group Trading Down 0.6%

The business has a 50-day moving average price of $4.48 and a two-hundred day moving average price of $4.33. The company has a market cap of $827.54 million, a P/E ratio of 41.25, a P/E/G ratio of 0.68 and a beta of 1.63. The company has a quick ratio of 1.58, a current ratio of 2.34 and a debt-to-equity ratio of 0.25.

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 business had revenue of $80.36 million for the quarter, compared to analyst estimates of $74.66 million. During the same quarter in the previous year, the company posted $0.07 EPS. The business's revenue for the quarter was down 11.2% compared to the same quarter last year. On average, analysts predict that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

Institutional Investors Weigh In On Shoals Technologies Group

A number of institutional investors have recently added to or reduced their stakes in SHLS. MQS Management LLC bought a new stake in shares of Shoals Technologies Group during the 1st quarter worth $43,000. Cerity Partners LLC purchased a new position in shares of Shoals Technologies Group during the 1st quarter valued at about $43,000. Caitong International Asset Management Co. Ltd bought a new stake in Shoals Technologies Group in the 1st quarter worth approximately $44,000. Virtu Financial LLC bought a new stake in shares of Shoals Technologies Group in the 1st quarter worth approximately $46,000. Finally, FORA Capital LLC bought a new stake in Shoals Technologies Group in the first quarter worth $51,000.

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.