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

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) have been given a consensus rating of "Hold" by the twenty-two brokerages that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $9.48.

SHLS has been the subject of several research analyst reports. Bank of America initiated coverage on Shoals Technologies Group in a research note on Monday, November 25th. They issued a "buy" rating and a $6.00 price objective for the company. TD Cowen raised their price objective on Shoals Technologies Group from $9.50 to $11.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Mizuho dropped their price objective on Shoals Technologies Group from $7.00 to $6.00 and set an "outperform" rating for the company in a research note on Friday, January 24th. Truist Financial lowered their target price on Shoals Technologies Group from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. lowered their target price on Shoals Technologies Group from $11.00 to $10.00 and set an "overweight" rating on the stock in a report on Thursday, January 23rd.

Insider Buying and Selling at Shoals Technologies Group

In other news, CEO Brandon Moss purchased 22,300 shares of the stock in a transaction on Thursday, November 21st. The stock was purchased at an average price of $4.55 per share, with a total value of $101,465.00. Following the completion of the transaction, the chief executive officer now owns 593,700 shares in the company, valued at approximately $2,701,335. The trade was a 3.90 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders sold 6,460 shares of company stock valued at $30,271. Company insiders own 1.67% of the company's stock.

Institutional Investors Weigh In On Shoals Technologies Group

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of Shoals Technologies Group by 48.9% during the third quarter. FMR LLC now owns 5,806 shares of the company's stock worth $33,000 after purchasing an additional 1,906 shares in the last quarter. Empirical Asset Management LLC acquired a new position in shares of Shoals Technologies Group in the fourth quarter worth about $59,000. TrinityPoint Wealth LLC acquired a new position in shares of Shoals Technologies Group in the third quarter worth about $60,000. Tower Research Capital LLC TRC lifted its stake 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 worth $86,000 after acquiring an additional 2,652 shares in the last quarter. Finally, Cibc World Markets Corp acquired a new position in shares of Shoals Technologies Group in the fourth quarter worth about $87,000.

Shoals Technologies Group Stock Performance

SHLS traded down $0.08 on Tuesday, hitting $3.96. 4,009,970 shares of the company traded hands, compared to its average volume of 6,362,741. The company has a 50 day moving average of $4.94 and a 200-day moving average of $5.25. 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 market capitalization of $660.13 million, a PE ratio of 19.80, a PEG ratio of 0.53 and a beta of 1.62. Shoals Technologies Group has a 12-month low of $3.83 and a 12-month high of $16.85.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 earnings per share 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 firm had revenue of $102.20 million during the quarter, compared to analysts' expectations of $98.86 million. During the same period in the previous year, the business earned $0.16 earnings per share. The business's revenue for the quarter was down 23.8% on a year-over-year basis. Sell-side analysts anticipate that Shoals Technologies Group will post 0.29 earnings per share 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.