Shoals Technologies Group, Inc. (NASDAQ:SHLS) Receives $17.29 Average Price Target from Brokerages

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLSGet Free Report) have earned a consensus rating of “Moderate Buy” from the nineteen research firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $17.29.

SHLS has been the topic of a number of recent analyst reports. Roth Mkm lowered Shoals Technologies Group from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $15.00 to $8.00 in a research note on Wednesday, May 8th. Mizuho decreased their price objective on shares of Shoals Technologies Group from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. JPMorgan Chase & Co. lowered their target price on shares of Shoals Technologies Group from $32.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, February 29th. Truist Financial reaffirmed a “buy” rating and set a $20.00 price target (down previously from $23.00) on shares of Shoals Technologies Group in a research report on Thursday, February 29th. Finally, TD Cowen lowered their price objective on Shoals Technologies Group from $15.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th.

Check Out Our Latest Stock Report on Shoals Technologies Group

Shoals Technologies Group Trading Down 1.4 %

SHLS opened at $7.03 on Friday. The company’s 50 day moving average price is $10.05 and its two-hundred day moving average price is $13.00. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 39.06 and a beta of 1.86. Shoals Technologies Group has a fifty-two week low of $6.89 and a fifty-two week high of $28.34. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.62 and a quick ratio of 1.87.

Shoals Technologies Group (NASDAQ:SHLSGet Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.04). The company had revenue of $130.44 million during the quarter, compared to analyst estimates of $131.89 million. Shoals Technologies Group had a net margin of 6.42% and a return on equity of 13.95%. As a group, research analysts predict that Shoals Technologies Group will post 0.5 earnings per share for the current year.

Institutional Investors Weigh In On Shoals Technologies Group

A number of hedge funds have recently modified their holdings of the stock. Assetmark Inc. lifted its position 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 valued at $29,000 after buying an additional 765 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new position in Shoals Technologies Group during the fourth quarter worth about $33,000. Headlands Technologies LLC increased its stake in shares of Shoals Technologies Group by 101.4% in the third quarter. Headlands Technologies LLC now owns 4,459 shares of the company’s stock worth $81,000 after purchasing an additional 2,245 shares in the last quarter. Trium Capital LLP bought a new stake in shares of Shoals Technologies Group in the third quarter valued at approximately $93,000. Finally, iA Global Asset Management Inc. purchased a new stake in shares of Shoals Technologies Group during the 3rd quarter valued at approximately $102,000.

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.

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Analyst Recommendations for Shoals Technologies Group (NASDAQ:SHLS)

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