Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) shares hit a new 52-week low on Wednesday . The company traded as low as $3.87 and last traded at $3.85, with a volume of 375875 shares changing hands. The stock had previously closed at $4.10.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. Barclays lowered their price objective on shares of Shoals Technologies Group from $5.00 to $4.00 and set an "equal weight" rating on the stock in a report on Friday, January 17th. Guggenheim lowered 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 report on Thursday, November 21st. The Goldman Sachs Group lowered their target price on shares of Shoals Technologies Group from $9.00 to $8.00 and set a "buy" rating on the stock in a report on Wednesday, January 22nd. 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 report on Friday, November 22nd. Finally, Truist Financial lowered their target price on shares of Shoals Technologies Group from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Thursday, January 16th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $9.48.
View Our Latest Stock Report on SHLS
Shoals Technologies Group Stock Performance
The stock's 50-day moving average price is $4.94 and its 200-day moving average price is $5.24. The company has a market cap of $660.13 million, a P/E ratio of 19.80, a PEG ratio of 0.53 and a beta of 1.62. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.08 and a quick ratio of 1.36.
Insider Activity
In other news, CEO Brandon Moss acquired 22,300 shares of the business's stock in a transaction that occurred on Thursday, November 21st. The stock was acquired at an average price of $4.55 per share, with a total value of $101,465.00. Following the completion of the transaction, the chief executive officer now directly owns 593,700 shares of the company's stock, valued at $2,701,335. This trade represents a 3.90 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 6,460 shares of company stock valued at $30,271. 1.67% of the stock is owned by company insiders.
Institutional Investors Weigh In On Shoals Technologies Group
Institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP lifted its position in Shoals Technologies Group by 14.6% during the third quarter. Wellington Management Group LLP now owns 13,107,404 shares of the company's stock worth $73,533,000 after purchasing an additional 1,666,691 shares during the period. Point72 Europe London LLP acquired a new position in Shoals Technologies Group during the third quarter worth about $1,461,000. Erste Asset Management GmbH acquired a new position in Shoals Technologies Group during the third quarter worth about $20,191,000. Roubaix Capital LLC acquired a new position in Shoals Technologies Group during the third quarter worth about $2,156,000. Finally, Verition Fund Management LLC raised its stake in Shoals Technologies Group by 938.3% during the third quarter. Verition Fund Management LLC now owns 2,251,093 shares of the company's stock worth $12,629,000 after acquiring an additional 2,034,291 shares in the last quarter.
About Shoals Technologies Group
(
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.
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