Shoals Technologies Group (NASDAQ:SHLS) Price Target Lowered to $6.00 at Piper Sandler

Shoals Technologies Group (NASDAQ:SHLS) had its price target lowered by Piper Sandler from $8.00 to $6.00 in a research report released on Wednesday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

SHLS has been the topic of a number of other research reports. Barclays lowered their price objective on Shoals Technologies Group from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Wolfe Research began coverage on Shoals Technologies Group in a report on Tuesday, February 18th. They set a “peer perform” rating on the stock. Mizuho cut their price objective 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. Morgan Stanley upgraded shares of Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and set a $7.00 target price on the stock in a research report on Tuesday, December 17th. Finally, Royal Bank of Canada cut their price target on shares of Shoals Technologies Group from $9.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $8.95.

Shoals Technologies Group Trading Down 12.9 %

NASDAQ:SHLS opened at $3.03 on Wednesday. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. The stock’s 50 day simple moving average is $4.83 and its 200-day simple moving average is $5.14. Shoals Technologies Group has a 12-month low of $2.91 and a 12-month high of $13.82. The firm 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) last announced 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 firm had revenue of $107.00 million during the quarter, compared to analyst estimates of $102.16 million. Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The business’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.12 earnings per share. Equities analysts anticipate that Shoals Technologies Group will post 0.29 EPS for the current year.

Hedge Funds Weigh In On Shoals Technologies Group

Hedge funds have recently bought and sold shares of the stock. FMR LLC increased its position in 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 purchasing an additional 1,906 shares in the last quarter. Empirical Asset Management LLC purchased a new stake in shares of Shoals Technologies Group during the fourth quarter worth about $59,000. TrinityPoint Wealth LLC acquired a new position in shares of Shoals Technologies Group in the third quarter valued at approximately $60,000. American Trust purchased a new position in shares of Shoals Technologies Group during the fourth quarter valued at approximately $72,000. Finally, 49 Wealth Management LLC purchased a new stake in Shoals Technologies Group in the 4th quarter worth approximately $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.