Shoals Technologies Group, Inc. (NASDAQ:SHLS) Receives $8.87 Consensus Price Target from Analysts

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) have been given a consensus recommendation of "Hold" by the twenty-three research firms that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $8.87.

Several brokerages have recently weighed in on SHLS. Mizuho decreased their target price on Shoals Technologies Group from $7.00 to $6.00 and set an "outperform" rating for the company in a research report on Friday, January 24th. Roth Mkm lowered their price objective on shares of Shoals Technologies Group from $5.00 to $4.50 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Truist Financial dropped their price objective on shares of Shoals Technologies Group from $8.00 to $7.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. UBS Group decreased 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 research note on Wednesday, February 26th. Finally, Barclays dropped their price target on shares of Shoals Technologies Group from $5.00 to $4.00 and set an "equal weight" rating on the stock in a research note on Friday, January 17th.

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Insider Activity

In related news, CEO Brandon Moss sold 21,700 shares of the business's stock in a transaction that occurred on 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 in the company, valued at $3,227,500.21. The trade was a 2.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 40,575 shares of company stock valued at $123,957. 1.67% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Shoals Technologies Group

Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC lifted its position in Shoals Technologies Group by 48.9% in the 3rd quarter. FMR LLC now owns 5,806 shares of the company's stock valued at $33,000 after purchasing an additional 1,906 shares during the last quarter. Empirical Asset Management LLC acquired a new stake in shares of Shoals Technologies Group in the fourth quarter valued at approximately $59,000. American Trust bought a new stake in shares of Shoals Technologies Group during the fourth quarter valued at approximately $72,000. 49 Wealth Management LLC acquired a new position in shares of Shoals Technologies Group during the fourth quarter worth approximately $74,000. Finally, State of Wyoming grew its holdings in Shoals Technologies Group by 250.7% in the 4th quarter. State of Wyoming now owns 15,117 shares of the company's stock worth $84,000 after buying an additional 10,806 shares in the last quarter.

Shoals Technologies Group Trading Up 3.0 %

Shares of NASDAQ:SHLS traded up $0.09 during trading on Wednesday, reaching $3.14. 5,174,951 shares of the stock were exchanged, compared to its average volume of 5,671,860. Shoals Technologies Group has a 12-month low of $2.71 and a 12-month high of $10.79. The firm's 50-day moving average price is $3.73 and its 200 day moving average price is $4.69. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 2.08. The firm has a market cap of $524.36 million, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 0.52 and a beta of 1.54.

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