Shoals Technologies Group, Inc. (NASDAQ:SHLS) Receives Consensus Rating of "Hold" from Analysts

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) have earned an average rating of "Hold" from the twenty-three ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $11.31.

Several equities analysts have recently issued reports on SHLS shares. Wells Fargo & Company started coverage on shares of Shoals Technologies Group in a report on Monday, October 14th. They set an "equal weight" rating and a $46.00 price objective on the stock. TD Cowen upped their price objective on shares of Shoals Technologies Group from $9.50 to $11.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Roth Mkm cut their price objective on shares of Shoals Technologies Group from $7.00 to $6.00 and set a "neutral" rating on the stock in a report on Friday, September 6th. Piper Sandler cut their price objective on shares of Shoals Technologies Group from $10.00 to $8.00 and set an "overweight" rating on the stock in a report on Friday, November 22nd. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $11.00 price target on shares of Shoals Technologies Group in a report on Friday, September 6th.

Insiders Place Their Bets

In other Shoals Technologies Group news, CEO Brandon Moss bought 22,300 shares of the firm's 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 transaction, the chief executive officer now directly owns 593,700 shares of the company's stock, valued at approximately $2,701,335. This represents a 3.90 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.67% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC lifted its position in shares of Shoals Technologies Group by 48.9% during the 3rd quarter. FMR LLC now owns 5,806 shares of the company's stock valued at $33,000 after buying an additional 1,906 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Shoals Technologies Group during the 2nd quarter valued at approximately $54,000. TrinityPoint Wealth LLC purchased a new position in shares of Shoals Technologies Group during the 3rd quarter valued at approximately $60,000. Mackenzie Financial Corp purchased a new position in shares of Shoals Technologies Group during the 2nd quarter valued at approximately $64,000. Finally, American Trust purchased a new position in shares of Shoals Technologies Group during the 2nd quarter valued at approximately $68,000.

Shoals Technologies Group Stock Up 5.0 %

Shoals Technologies Group stock traded up $0.25 during trading hours on Thursday, reaching $5.26. The stock had a trading volume of 3,813,759 shares, compared to its average volume of 5,011,508. The company has a market cap of $876.84 million, a price-to-earnings ratio of 26.30, a PEG ratio of 0.73 and a beta of 1.73. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.08 and a quick ratio of 1.36. The business's 50 day moving average price is $5.29 and its 200-day moving average price is $5.99. Shoals Technologies Group has a 52 week low of $4.07 and a 52 week high of $17.50.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $102.20 million for the quarter, compared to analyst estimates of $98.86 million. During the same quarter last year, the company earned $0.16 EPS. The business's revenue was down 23.8% compared to the same quarter last year. Sell-side analysts anticipate that Shoals Technologies Group will post 0.29 EPS for the current year.

About Shoals Technologies Group

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.