Wolfe Research Begins Coverage on Shoals Technologies Group (NASDAQ:SHLS)

Wolfe Research initiated coverage on shares of Shoals Technologies Group (NASDAQ:SHLS - Free Report) in a research report report published on Tuesday, Marketbeat Ratings reports. The brokerage issued a peer perform rating on the stock.

SHLS has been the topic of a number of other reports. Piper Sandler lowered their target price on shares of Shoals Technologies Group from $10.00 to $8.00 and set an "overweight" rating on the stock in a research note on Friday, November 22nd. Oppenheimer lowered their target price on shares of Shoals Technologies Group from $11.00 to $10.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 28th. JPMorgan Chase & Co. decreased 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 research note on Thursday, January 23rd. TD Cowen lifted their price target on shares of Shoals Technologies Group from $9.50 to $11.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Finally, The Goldman Sachs Group decreased their price target on shares of Shoals Technologies Group from $9.00 to $8.00 and set a "buy" rating on the stock in a research note on Wednesday, January 22nd. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Shoals Technologies Group presently has an average rating of "Hold" and an average price target of $9.48.

Shoals Technologies Group Price Performance

SHLS traded down $0.07 on Tuesday, reaching $4.52. The company had a trading volume of 4,573,139 shares, compared to its average volume of 6,393,557. The business has a 50 day simple moving average of $4.91 and a 200 day simple moving average of $5.19. The company has a market cap of $753.48 million, a price-to-earnings ratio of 22.60, a P/E/G ratio of 0.49 and a beta of 1.62. 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 52-week low of $3.83 and a 52-week high of $16.19.

Institutional Trading of Shoals Technologies Group

Several large investors have recently added to or reduced their stakes in SHLS. FMR LLC boosted its holdings in Shoals Technologies Group by 48.9% in the third quarter. FMR LLC now owns 5,806 shares of the company's stock valued at $33,000 after acquiring an additional 1,906 shares in the last quarter. Empirical Asset Management LLC bought a new stake in Shoals Technologies Group in the fourth quarter valued at $59,000. TrinityPoint Wealth LLC bought a new stake in Shoals Technologies Group in the third quarter valued at $60,000. 49 Wealth Management LLC bought a new stake in Shoals Technologies Group in the fourth quarter valued at $74,000. Finally, State of Wyoming boosted its holdings in Shoals Technologies Group by 250.7% in the fourth quarter. State of Wyoming now owns 15,117 shares of the company's stock valued at $84,000 after acquiring an additional 10,806 shares in the last quarter.

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.