Shoals Technologies Group (NASDAQ:SHLS) Trading Up 6.2% - What's Next?

Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) shot up 6.2% on Wednesday . The stock traded as high as $4.31 and last traded at $4.33. 496,973 shares traded hands during trading, a decline of 92% from the average session volume of 6,229,085 shares. The stock had previously closed at $4.08.

Analyst Upgrades and Downgrades

SHLS has been the subject of a number of research analyst reports. Barclays lowered their price target on Shoals Technologies Group from $5.00 to $4.00 and set an "equal weight" rating for the company in a report on Friday, January 17th. JPMorgan Chase & Co. lowered their target price on shares of Shoals Technologies Group from $11.00 to $10.00 and set an "overweight" rating for the company in a report on Thursday, January 23rd. Guggenheim dropped 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 research report on Thursday, November 21st. Truist Financial reduced their price target on shares of Shoals Technologies Group from $8.00 to $7.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. Finally, Mizuho dropped their price objective on Shoals Technologies Group from $7.00 to $6.00 and set an "outperform" rating on the stock in a report on Friday, January 24th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $9.48.

Shoals Technologies Group Stock Performance

The company has a market cap of $753.48 million, a PE 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. The stock's 50-day simple moving average is $4.91 and its 200 day simple moving average is $5.19.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. FMR LLC boosted its holdings 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 in the last quarter. Empirical Asset Management LLC acquired a new stake in shares of Shoals Technologies Group in the 4th quarter valued at approximately $59,000. TrinityPoint Wealth LLC purchased a new stake in shares of Shoals Technologies Group in the third quarter valued at approximately $60,000. 49 Wealth Management LLC acquired a new position in Shoals Technologies Group during the fourth quarter worth $74,000. Finally, State of Wyoming raised its position in Shoals Technologies Group by 250.7% in the fourth quarter. State of Wyoming now owns 15,117 shares of the company's stock worth $84,000 after acquiring an additional 10,806 shares in 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.