Shoals Technologies Group (NASDAQ:SHLS - Free Report) had its price objective cut by Oppenheimer from $11.00 to $10.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.
A number of other equities analysts also recently issued reports on the company. Barclays cut their target price on Shoals Technologies Group from $5.00 to $4.00 and set an "equal weight" rating for the company in a research note on Friday, January 17th. Bank of America initiated coverage on shares of Shoals Technologies Group in a research note on Monday, November 25th. They set a "buy" rating and a $6.00 price target on the stock. Guggenheim reduced their price objective on shares of Shoals Technologies Group from $8.00 to $7.00 and set a "buy" rating for the company in a research note on Thursday, November 21st. Citigroup upgraded shares of Shoals Technologies Group from a "sell" rating to a "neutral" rating and upped their target price for the stock from $5.00 to $5.50 in a research report on Thursday, October 3rd. Finally, Mizuho reduced their price target on shares of Shoals Technologies Group from $7.00 to $6.00 and set an "outperform" rating for the company in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $9.48.
Get Our Latest Analysis on SHLS
Shoals Technologies Group Stock Down 3.3 %
SHLS traded down $0.15 on Tuesday, reaching $4.41. The company's stock had a trading volume of 5,674,465 shares, compared to its average volume of 7,245,645. The company has a quick ratio of 1.36, a current ratio of 2.08 and a debt-to-equity ratio of 0.26. The stock has a 50 day moving average of $5.06 and a two-hundred day moving average of $5.46. The company has a market capitalization of $735.15 million, a price-to-earnings ratio of 22.05, a P/E/G ratio of 0.50 and a beta of 1.64. Shoals Technologies Group has a fifty-two week low of $4.07 and a fifty-two week high of $17.50.
Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.02). The business had revenue of $102.20 million during the quarter, compared to analysts' expectations of $98.86 million. Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. Shoals Technologies Group's quarterly revenue was down 23.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 earnings per share. As a group, analysts forecast that Shoals Technologies Group will post 0.29 EPS for the current fiscal year.
Insider Activity
In related news, CEO Brandon Moss purchased 22,300 shares of the business's stock in a transaction on Thursday, November 21st. The shares were bought at an average price of $4.55 per share, with a total value of $101,465.00. Following the completion of the purchase, the chief executive officer now directly owns 593,700 shares in the company, valued at approximately $2,701,335. This trade represents a 3.90 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 6,460 shares of company stock valued at $30,271 over the last quarter. Company insiders own 1.67% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SHLS. Wellington Management Group LLP raised its stake in shares of Shoals Technologies Group by 14.6% in the 3rd quarter. Wellington Management Group LLP now owns 13,107,404 shares of the company's stock valued at $73,533,000 after acquiring an additional 1,666,691 shares during the period. Point72 Europe London LLP acquired a new position in shares of Shoals Technologies Group during the third quarter worth about $1,461,000. Handelsbanken Fonder AB grew its stake in shares of Shoals Technologies Group by 34.2% in the third quarter. Handelsbanken Fonder AB now owns 2,711,603 shares of the company's stock valued at $15,212,000 after buying an additional 690,344 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Shoals Technologies Group during the 3rd quarter valued at about $20,191,000. Finally, Roubaix Capital LLC acquired a new position in Shoals Technologies Group during the 3rd quarter worth approximately $2,156,000.
About Shoals Technologies Group
(
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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.
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