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

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) have been assigned a consensus rating of "Hold" from the twenty-three brokerages that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $8.95.

A number of research firms recently commented on SHLS. Barclays reduced their price target on Shoals Technologies Group from $5.00 to $4.00 and set an "equal weight" rating for the company in a report on Friday, January 17th. Oppenheimer dropped their price objective on shares of Shoals Technologies Group from $11.00 to $10.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 28th. The Goldman Sachs Group reduced 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 Wednesday, February 26th. JPMorgan Chase & Co. lowered their price target on shares of Shoals Technologies Group from $11.00 to $10.00 and set an "overweight" rating on the stock in a report on Thursday, January 23rd. Finally, Truist Financial reduced their price objective on Shoals Technologies Group from $8.00 to $7.00 and set a "buy" rating for the company in a report on Thursday, January 16th.

Shoals Technologies Group Stock Down 1.1 %

Shoals Technologies Group stock traded down $0.03 during midday trading on Friday, reaching $2.81. The stock had a trading volume of 4,776,725 shares, compared to its average volume of 5,486,580. The firm's fifty day simple moving average is $4.52 and its 200-day simple moving average is $5.04. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 2.08. Shoals Technologies Group has a 1-year low of $2.72 and a 1-year high of $13.44. The stock has a market capitalization of $468.42 million, a P/E ratio of 14.05, a price-to-earnings-growth ratio of 0.52 and a beta of 1.69.

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Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.01). The company had revenue of $107.00 million during the quarter, compared to the consensus estimate of $102.16 million. Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The firm's revenue for the quarter was down 17.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.12 earnings per share. As a group, analysts expect that Shoals Technologies Group will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling

In other Shoals Technologies Group news, CEO Brandon Moss sold 21,700 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $3.07, for a total transaction of $66,619.00. Following the completion of the transaction, the chief executive officer now owns 1,051,303 shares of the company's stock, valued at approximately $3,227,500.21. The trade was a 2.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 35,975 shares of company stock worth $110,633 in the last ninety days. 1.67% of the stock is owned by insiders.

Institutional Investors Weigh In On Shoals Technologies Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Impax Asset Management Group plc boosted its position in Shoals Technologies Group by 126.3% in the fourth quarter. Impax Asset Management Group plc now owns 3,469,360 shares of the company's stock valued at $19,083,000 after buying an additional 1,935,983 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Shoals Technologies Group by 14.6% during 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 in the last quarter. Point72 Europe London LLP acquired a new stake in shares of Shoals Technologies Group during the 3rd quarter valued at $1,461,000. RWC Asset Management LLP bought a new stake in Shoals Technologies Group during the 4th quarter worth $1,891,000. Finally, Erste Asset Management GmbH acquired a new position in Shoals Technologies Group in the 3rd quarter worth about $20,191,000.

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.