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

Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) has been given an average rating of "Hold" by the twenty-three analysts that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $10.64.

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Shoals Technologies Group from $14.00 to $12.00 and set an "overweight" rating on the stock in a research note on Thursday, October 17th. Citigroup raised shares of Shoals Technologies Group from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $5.00 to $5.50 in a report on Thursday, October 3rd. Royal Bank of Canada reiterated an "outperform" rating and set a $11.00 price target on shares of Shoals Technologies Group in a report on Friday, September 6th. Truist Financial reduced their price objective on shares of Shoals Technologies Group from $10.00 to $8.00 and set a "buy" rating on the stock in a research note on Friday, September 6th. Finally, Guggenheim lowered their price objective on Shoals Technologies Group from $8.00 to $7.00 and set a "buy" rating for the company in a research report on Thursday, November 21st.

Shoals Technologies Group Price Performance

SHLS traded up $0.35 during trading on Monday, hitting $5.47. 4,758,444 shares of the stock traded hands, compared to its average volume of 4,988,758. The business has a 50 day moving average price of $5.01 and a 200 day moving average price of $5.67. 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 has a twelve month low of $4.07 and a twelve month high of $17.50. The company has a market cap of $911.84 million, a price-to-earnings ratio of 27.35, a PEG ratio of 0.64 and a beta of 1.69.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last posted its quarterly 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 for the quarter, compared to analyst estimates of $98.86 million. Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. Shoals Technologies Group's quarterly revenue was down 23.8% on a year-over-year basis. During the same period last year, the firm posted $0.16 EPS. Equities research analysts forecast that Shoals Technologies Group will post 0.29 earnings per share for the current fiscal year.

Insider Transactions at Shoals Technologies Group

In other Shoals Technologies Group news, CEO Brandon Moss bought 22,300 shares of the business'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 purchase, 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 6,460 shares of company stock worth $30,271 in the last quarter. 1.67% of the stock is currently owned by corporate insiders.

Institutional Trading of Shoals Technologies Group

A number of hedge funds have recently bought and sold shares of the business. FMR LLC raised its position in 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 period. Van ECK Associates Corp raised its holdings in shares of Shoals Technologies Group by 1.9% in the 3rd quarter. Van ECK Associates Corp now owns 131,808 shares of the company's stock worth $739,000 after purchasing an additional 2,517 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Shoals Technologies Group by 3.8% in the second quarter. The Manufacturers Life Insurance Company now owns 101,623 shares of the company's stock valued at $637,000 after purchasing an additional 3,699 shares during the last quarter. Point72 DIFC Ltd grew its holdings in Shoals Technologies Group by 12.8% during the second quarter. Point72 DIFC Ltd now owns 54,650 shares of the company's stock valued at $341,000 after purchasing an additional 6,206 shares during the period. Finally, Janus Henderson Group PLC increased its position in Shoals Technologies Group by 2.3% in the third quarter. Janus Henderson Group PLC now owns 294,598 shares of the company's stock worth $1,653,000 after buying an additional 6,503 shares during the last quarter.

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.