UBS Group Lowers Shoals Technologies Group (NASDAQ:SHLS) Price Target to $7.00

Shoals Technologies Group (NASDAQ:SHLS - Free Report) had its price target reduced by UBS Group from $8.00 to $7.00 in a research report released on Wednesday,Benzinga reports. UBS Group currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the stock. Roth Mkm decreased their target price on shares of Shoals Technologies Group from $5.00 to $4.50 and set a "neutral" rating for the company in a research note on Wednesday. Bank of America began coverage on shares of Shoals Technologies Group in a research report on Monday, November 25th. They set a "buy" rating and a $6.00 price objective for the company. The Goldman Sachs Group reduced their price objective 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 Wednesday. TD Cowen lifted their price objective on shares of Shoals Technologies Group from $9.50 to $11.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Finally, Guggenheim reduced their price objective 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, November 21st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Shoals Technologies Group presently has an average rating of "Hold" and a consensus target price of $8.95.

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Shoals Technologies Group Stock Down 12.9 %

Shares of NASDAQ:SHLS traded down $0.45 during midday trading on Wednesday, hitting $3.03. The stock had a trading volume of 14,159,211 shares, compared to its average volume of 6,855,297. Shoals Technologies Group has a 12 month low of $2.91 and a 12 month high of $13.82. The company has a quick ratio of 1.36, a current ratio of 2.08 and a debt-to-equity ratio of 0.26. The business's 50-day simple moving average is $4.83 and its 200-day simple moving average is $5.13. The company has a market cap of $505.10 million, a P/E ratio of 15.15, a PEG ratio of 0.52 and a beta of 1.62.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SHLS. FMR LLC raised its stake 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 purchasing an additional 1,906 shares in the last quarter. Empirical Asset Management LLC acquired a new position in Shoals Technologies Group in the fourth quarter valued at about $59,000. TrinityPoint Wealth LLC acquired a new position in Shoals Technologies Group in the third quarter valued at about $60,000. American Trust acquired a new position in Shoals Technologies Group in the fourth quarter valued at about $72,000. Finally, 49 Wealth Management LLC acquired a new position in Shoals Technologies Group in the fourth quarter valued at about $74,000.

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.