Shoals Technologies Group, Inc. (NASDAQ:SHLS) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) have been given an average recommendation of “Moderate Buy” by the seventeen ratings firms that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $21.06.

A number of equities research analysts have recently issued reports on the stock. UBS Group cut their target price on shares of Shoals Technologies Group from $28.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, March 1st. Piper Sandler reduced their target price on shares of Shoals Technologies Group from $16.00 to $14.00 and set an “overweight” rating for the company in a report on Thursday, April 11th. TD Cowen reduced their price target on shares of Shoals Technologies Group from $30.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday, February 29th. Cantor Fitzgerald reissued an “overweight” rating and set a $24.00 target price on shares of Shoals Technologies Group in a research note on Wednesday, March 13th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $20.00 price objective (down previously from $23.00) on shares of Shoals Technologies Group in a research note on Thursday, February 29th.

Institutional Trading of Shoals Technologies Group

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

Shoals Technologies Group Stock Down 4.2 %

SHLS opened at $8.35 on Wednesday. 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 has a one year low of $8.23 and a one year high of $28.34. The business’s 50-day simple moving average is $12.83 and its 200-day simple moving average is $14.08. The stock has a market capitalization of $1.42 billion, a P/E ratio of 33.40 and a beta of 1.79.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.04). Shoals Technologies Group had a return on equity of 16.02% and a net margin of 8.18%. The firm had revenue of $130.44 million for the quarter, compared to analysts’ expectations of $131.89 million. Analysts anticipate that Shoals Technologies Group will post 0.51 EPS for the current year.

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.