Shoals Technologies Group, Inc. (NASDAQ:SHLS – Get Free Report) gapped down before the market opened on Friday after Roth Mkm lowered their price target on the stock from $7.00 to $6.00. The stock had previously closed at $5.48, but opened at $5.36. Roth Mkm currently has a neutral rating on the stock. Shoals Technologies Group shares last traded at $5.51, with a volume of 263,620 shares changing hands.
Several other brokerages also recently weighed in on SHLS. Barclays lowered their price target on shares of Shoals Technologies Group from $10.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. UBS Group lowered their target price on shares of Shoals Technologies Group from $12.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. BNP Paribas lowered Shoals Technologies Group from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $15.00 to $7.00 in a research note on Wednesday, August 7th. Oppenheimer lowered their price objective on Shoals Technologies Group from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, Piper Sandler cut their target price on Shoals Technologies Group from $11.00 to $8.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Four analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $11.06.
View Our Latest Stock Analysis on Shoals Technologies Group
Hedge Funds Weigh In On Shoals Technologies Group
Shoals Technologies Group Stock Up 3.1 %
The company has a market cap of $941.57 million, a PE ratio of 31.39, a price-to-earnings-growth ratio of 0.82 and a beta of 1.74. The company has a fifty day moving average of $5.92 and a two-hundred day moving average of $8.20. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.50 and a current ratio of 2.26.
Shoals Technologies Group (NASDAQ:SHLS – Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.02. Shoals Technologies Group had a net margin of 5.13% and a return on equity of 12.75%. The business had revenue of $99.25 million for the quarter, compared to the consensus estimate of $90.57 million. During the same quarter in the prior year, the firm posted $0.12 earnings per share. The business’s revenue for the quarter was down 16.7% on a year-over-year basis. As a group, analysts anticipate that Shoals Technologies Group, Inc. will post 0.31 earnings per share for the current fiscal 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.
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