Shoals Technologies Group (NASDAQ:SHLS) Price Target Lowered to $4.50 at Roth Mkm

Shoals Technologies Group (NASDAQ:SHLS) had its price target trimmed by Roth Mkm from $5.00 to $4.50 in a report issued on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research analysts have also recently issued reports on SHLS. Guggenheim lowered their price objective on 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. JPMorgan Chase & Co. lowered their price objective on Shoals Technologies Group from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Wolfe Research assumed coverage on Shoals Technologies Group in a research report on Tuesday, February 18th. They set a “peer perform” rating for the company. Morgan Stanley raised Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and set a $7.00 price objective for the company in a research report on Tuesday, December 17th. Finally, Mizuho decreased their target price on Shoals Technologies Group from $7.00 to $6.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $8.95.

Shoals Technologies Group Price Performance

Shares of NASDAQ SHLS opened at $3.03 on Wednesday. The stock’s 50-day moving average is $4.83 and its two-hundred day moving average is $5.14. 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 1-year low of $2.91 and a 1-year high of $13.82. The company has a market cap of $505.10 million, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 0.52 and a beta of 1.62.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01). The business had revenue of $107.00 million for the quarter, compared to analyst estimates of $102.16 million. Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. The company’s revenue was down 17.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.12 earnings per share. Analysts forecast that Shoals Technologies Group will post 0.29 EPS for the current fiscal year.

Institutional Trading of Shoals Technologies Group

Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in shares of Shoals Technologies Group by 48.9% during the 3rd quarter. FMR LLC now owns 5,806 shares of the company’s stock worth $33,000 after buying an additional 1,906 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Shoals Technologies Group by 1.9% during the 3rd quarter. Van ECK Associates Corp now owns 131,808 shares of the company’s stock worth $739,000 after buying an additional 2,517 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Shoals Technologies Group by 20.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,525 shares of the company’s stock worth $86,000 after buying an additional 2,652 shares in the last quarter. Maven Securities LTD raised its stake in shares of Shoals Technologies Group by 11.1% during the 4th quarter. Maven Securities LTD now owns 50,000 shares of the company’s stock worth $276,000 after buying an additional 5,000 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Shoals Technologies Group by 2.3% during the 3rd quarter. Janus Henderson Group PLC now owns 294,598 shares of the company’s stock worth $1,653,000 after buying an additional 6,503 shares in the last quarter.

About Shoals Technologies Group

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.