Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) had its price objective reduced by investment analysts at Piper Sandler from $10.00 to $8.00 in a report released on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's price objective indicates a potential upside of 65.63% from the stock's previous close.
A number of other equities analysts also recently commented on SHLS. BNP Paribas downgraded shares of Shoals Technologies Group from an "outperform" rating to a "neutral" rating and cut their price objective for the stock from $15.00 to $7.00 in a research report on Wednesday, August 7th. Oppenheimer reduced their price objective on shares of Shoals Technologies Group from $14.00 to $12.00 and set an "outperform" rating for the company in a research report on Wednesday, August 7th. Roth Capital cut Shoals Technologies Group from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price target on Shoals Technologies Group from $14.00 to $12.00 and set an "overweight" rating for the company in a report on Thursday, October 17th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $11.00 price objective on shares of Shoals Technologies Group in a report on Friday, September 6th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Shoals Technologies Group currently has an average rating of "Hold" and a consensus target price of $11.58.
Check Out Our Latest Stock Report on SHLS
Shoals Technologies Group Stock Performance
Shares of NASDAQ SHLS traded up $0.43 during midday trading on Friday, reaching $4.83. 7,692,434 shares of the company were exchanged, compared to its average volume of 5,477,448. The stock has a market cap of $805.16 million, a P/E ratio of 24.15, a PEG ratio of 0.64 and a beta of 1.73. Shoals Technologies Group has a 1 year low of $4.07 and a 1 year high of $17.50. The stock has a fifty day simple moving average of $5.36 and a 200 day simple moving average of $6.04. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26.
Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.02). The company 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%. The firm's revenue was down 23.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.16 earnings per share. On average, research analysts forecast that Shoals Technologies Group will post 0.29 earnings per share for the current fiscal year.
Insider Activity
In other news, CEO Brandon Moss bought 22,300 shares of the stock in a transaction on Thursday, November 21st. The stock was purchased at an average cost of $4.55 per share, with a total value of $101,465.00. Following the purchase, the chief executive officer now owns 593,700 shares of the company's stock, valued at approximately $2,701,335. The trade was a 3.90 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.67% of the company's stock.
Institutional Investors Weigh In On Shoals Technologies Group
Several hedge funds have recently made changes to their positions in SHLS. Barclays PLC boosted its position in shares of Shoals Technologies Group by 25.9% in the third quarter. Barclays PLC now owns 291,242 shares of the company's stock worth $1,634,000 after acquiring an additional 59,856 shares during the last quarter. Y Intercept Hong Kong Ltd raised its stake in Shoals Technologies Group by 33.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 147,187 shares of the company's stock worth $826,000 after purchasing an additional 37,008 shares during the period. XTX Topco Ltd boosted its holdings in shares of Shoals Technologies Group by 346.6% in the 3rd quarter. XTX Topco Ltd now owns 135,104 shares of the company's stock valued at $758,000 after purchasing an additional 104,850 shares during the last quarter. Yaupon Capital Management LP purchased a new stake in shares of Shoals Technologies Group during the 3rd quarter valued at $8,585,000. Finally, Wellington Management Group LLP increased 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 worth $73,533,000 after buying an additional 1,666,691 shares during the last quarter.
Shoals Technologies Group Company Profile
(
Get Free Report)
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.
See Also
![Analyst Recommendations for Shoals Technologies Group (NASDAQ:SHLS)](https://www.marketbeat.com/scripts/RatingsAndPriceTargetChart.ashx?Prefix=NASDAQ&Symbol=SHLS)
Before you consider Shoals Technologies Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Shoals Technologies Group wasn't on the list.
While Shoals Technologies Group currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Keep reading to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.