Shoals Technologies Group, Inc. (NASDAQ:SHLS) Receives Consensus Rating of “Hold” from Analysts

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) have received a consensus rating of “Hold” from the twenty-three brokerages that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and thirteen have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $11.31.

Several analysts have recently issued reports on the company. Truist Financial decreased their price target on Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, September 6th. JPMorgan Chase & Co. decreased their price target on Shoals Technologies Group from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Piper Sandler decreased their price target on Shoals Technologies Group from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Roth Mkm decreased their price target on Shoals Technologies Group from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Finally, Jefferies Financial Group began coverage on Shoals Technologies Group in a research note on Wednesday, September 4th. They set a “hold” rating and a $5.00 price target for the company.

Insider Buying and Selling

In related news, CEO Brandon Moss bought 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, for a total transaction of $101,465.00. Following the transaction, the chief executive officer now directly owns 593,700 shares of the company’s stock, valued at $2,701,335. This represents a 3.90 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.36% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Shoals Technologies Group

Institutional investors have recently bought and sold shares of the business. M&G Plc bought a new position in Shoals Technologies Group in the 2nd quarter valued at $7,021,000. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in Shoals Technologies Group by 104.1% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 135,629 shares of the company’s stock valued at $846,000 after purchasing an additional 69,193 shares during the last quarter. Swedbank AB bought a new position in Shoals Technologies Group in the 1st quarter valued at $25,268,000. Skandinaviska Enskilda Banken AB publ raised its position in Shoals Technologies Group by 146.9% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 157,000 shares of the company’s stock valued at $980,000 after purchasing an additional 93,400 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its position in Shoals Technologies Group by 34.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 2,711,603 shares of the company’s stock valued at $15,212,000 after purchasing an additional 690,344 shares during the last quarter.

Shoals Technologies Group Stock Performance

Shares of NASDAQ SHLS opened at $5.26 on Thursday. The business’s 50-day moving average price is $5.31 and its two-hundred day moving average price is $6.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.08 and a quick ratio of 1.36. Shoals Technologies Group has a one year low of $4.07 and a one year high of $17.50. The company has a market capitalization of $876.84 million, a P/E ratio of 26.30, a price-to-earnings-growth ratio of 0.73 and a beta of 1.73.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.02). The company had revenue of $102.20 million for the quarter, compared to the consensus estimate of $98.86 million. Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. The business’s revenue was down 23.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.16 EPS. Analysts anticipate that Shoals Technologies Group will post 0.29 earnings per share for the current fiscal year.

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.