Shoals Technologies Group (NASDAQ:SHLS) Reaches New 1-Year Low at $10.86

Shoals Technologies Group, Inc. (NASDAQ:SHLSGet Free Report) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $10.86 and last traded at $10.87, with a volume of 277848 shares traded. The stock had previously closed at $11.38.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SHLS. Morgan Stanley reduced their target price on Shoals Technologies Group from $21.00 to $17.00 and set an “equal weight” rating on the stock in a report on Friday, December 8th. Barclays reduced their target price on Shoals Technologies Group from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 5th. The Goldman Sachs Group reduced their target price on Shoals Technologies Group from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, March 1st. Royal Bank of Canada cut their price objective on Shoals Technologies Group from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Finally, Piper Sandler cut their price objective on Shoals Technologies Group from $20.00 to $16.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Shoals Technologies Group has a consensus rating of “Moderate Buy” and a consensus target price of $21.18.

Get Our Latest Stock Report on SHLS

Shoals Technologies Group Price Performance

The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 43.44 and a beta of 1.79. The company has a 50-day simple moving average of $13.56 and a two-hundred day simple moving average of $14.76. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.88 and a current ratio of 2.45.

Shoals Technologies Group (NASDAQ:SHLSGet Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.04). The company had revenue of $130.44 million for the quarter, compared to analyst estimates of $131.89 million. Shoals Technologies Group had a return on equity of 16.02% and a net margin of 8.18%. As a group, equities research analysts forecast that Shoals Technologies Group, Inc. will post 0.51 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SHLS. Assetmark Inc. increased its holdings in shares of Shoals Technologies Group by 92.7% during the 3rd quarter. Assetmark Inc. now owns 1,590 shares of the company’s stock worth $29,000 after acquiring an additional 765 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Shoals Technologies Group by 73.5% during the 2nd quarter. IFP Advisors Inc now owns 1,223 shares of the company’s stock worth $31,000 after acquiring an additional 518 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in Shoals Technologies Group in the 4th quarter valued at $33,000. MetLife Investment Management LLC bought a new stake in Shoals Technologies Group in the 1st quarter valued at $36,000. Finally, Toroso Investments LLC bought a new stake in Shoals Technologies Group in the 3rd quarter valued at $44,000.

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.

Featured Articles

Receive News & Ratings for Shoals Technologies Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shoals Technologies Group and related companies with MarketBeat.com's FREE daily email newsletter.