Brokerages Set Shoals Technologies Group, Inc. (NASDAQ:SHLS) Target Price at $10.60

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) have earned a consensus rating of "Hold" from the twenty-three ratings firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $10.55.

Several equities research analysts have recently issued reports on the stock. Guggenheim lowered their target price on shares of Shoals Technologies Group from $8.00 to $7.00 and set a "buy" rating for the company in a report on Thursday, November 21st. Wells Fargo & Company initiated coverage on Shoals Technologies Group in a research report on Monday, October 14th. They issued an "equal weight" rating and a $46.00 price objective on the stock. Piper Sandler decreased their target price on Shoals Technologies Group from $10.00 to $8.00 and set an "overweight" rating for the company in a research report on Friday, November 22nd. Barclays lowered their price objective on shares of Shoals Technologies Group from $5.00 to $4.00 and set an "equal weight" rating for the company in a research report on Friday. Finally, The Goldman Sachs Group reduced their target price on shares of Shoals Technologies Group from $10.00 to $9.00 and set a "buy" rating on the stock in a research report on Tuesday, December 17th.

Insider Buying and Selling at Shoals Technologies Group

In related news, CEO Brandon Moss bought 22,300 shares of the stock in a transaction dated Thursday, November 21st. The shares were purchased at an average price of $4.55 per share, for a total transaction of $101,465.00. Following the completion of the purchase, the chief executive officer now directly owns 593,700 shares of the company's stock, valued at $2,701,335. This represents a 3.90 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 6,460 shares of company stock valued at $30,271. 0.36% of the stock is owned by insiders.

Institutional Trading of Shoals Technologies Group

Institutional investors have recently bought and sold shares of the business. FMR LLC boosted its stake in shares of Shoals Technologies Group by 48.9% in the third quarter. FMR LLC now owns 5,806 shares of the company's stock worth $33,000 after acquiring an additional 1,906 shares during the last quarter. Empirical Asset Management LLC purchased a new stake in shares of Shoals Technologies Group during the fourth quarter worth $59,000. TrinityPoint Wealth LLC purchased a new position in shares of Shoals Technologies Group in the third quarter worth about $60,000. Mackenzie Financial Corp acquired a new position in Shoals Technologies Group during the second quarter worth about $64,000. Finally, American Trust purchased a new stake in Shoals Technologies Group during the 2nd quarter valued at about $68,000.

Shoals Technologies Group Price Performance

Shares of SHLS stock traded down $0.11 during mid-day trading on Friday, hitting $4.57. The company had a trading volume of 5,307,288 shares, compared to its average volume of 7,127,045. The company has a market capitalization of $760.99 million, a P/E ratio of 22.68, a P/E/G ratio of 0.67 and a beta of 1.64. The stock's 50 day moving average price is $5.12 and its 200-day moving average price is $5.54. Shoals Technologies Group has a 52-week low of $4.07 and a 52-week high of $17.50. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.08 and a quick ratio of 1.36.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.02). Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The business had revenue of $102.20 million during the quarter, compared to analysts' expectations of $98.86 million. During the same period last year, the business posted $0.16 earnings per share. The company's revenue for the quarter was down 23.8% compared to the same quarter last year. Equities research analysts forecast 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.