Analysts Set Shoals Technologies Group, Inc. (NASDAQ:SHLS) PT at $17.29

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) have been assigned an average recommendation of “Hold” from the nineteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and twelve have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $16.06.

Several analysts recently commented on SHLS shares. Mizuho reduced their target price on shares of Shoals Technologies Group from $16.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. TD Cowen decreased their target price on Shoals Technologies Group from $15.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Roth Capital cut Shoals Technologies Group from a “buy” rating to a “neutral” rating in a report on Tuesday, May 7th. Cantor Fitzgerald decreased their price objective on Shoals Technologies Group from $24.00 to $14.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th. Finally, Roth Mkm cut shares of Shoals Technologies Group from a “buy” rating to a “neutral” rating and reduced their target price for the company from $15.00 to $8.00 in a research report on Wednesday, May 8th.

Shoals Technologies Group Stock Performance

SHLS opened at $6.03 on Monday. The company has a quick ratio of 1.87, a current ratio of 2.62 and a debt-to-equity ratio of 0.30. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 33.50 and a beta of 1.76. Shoals Technologies Group has a 12-month low of $5.69 and a 12-month high of $28.34. The business has a 50 day moving average of $7.29 and a 200-day moving average of $11.11.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. Shoals Technologies Group had a return on equity of 13.95% and a net margin of 6.42%. The business had revenue of $90.81 million during the quarter, compared to the consensus estimate of $94.44 million. On average, equities research analysts expect that Shoals Technologies Group will post 0.44 earnings per share for the current year.

Hedge Funds Weigh In On Shoals Technologies Group

A number of institutional investors have recently modified their holdings of SHLS. PNC Financial Services Group Inc. raised its stake in Shoals Technologies Group by 49.8% during the third quarter. PNC Financial Services Group Inc. now owns 10,204 shares of the company’s stock worth $186,000 after acquiring an additional 3,394 shares in the last quarter. FMR LLC increased its position in Shoals Technologies Group by 97.4% during the 3rd quarter. FMR LLC now owns 1,973,610 shares of the company’s stock worth $36,018,000 after purchasing an additional 974,058 shares in the last quarter. Glenmede Trust Co. NA acquired a new position in Shoals Technologies Group during the 3rd quarter worth approximately $206,000. Alberta Investment Management Corp lifted its stake in Shoals Technologies Group by 20.0% in the 3rd quarter. Alberta Investment Management Corp now owns 152,202 shares of the company’s stock valued at $2,778,000 after purchasing an additional 25,365 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its position in Shoals Technologies Group by 5.3% in the third quarter. Advisors Asset Management Inc. now owns 18,490 shares of the company’s stock valued at $337,000 after buying an additional 929 shares in the last quarter.

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.