Shoals Technologies Group (NASDAQ:SHLS – Free Report) had its price target lowered by The Goldman Sachs Group from $9.00 to $8.00 in a research note published on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.
Several other research firms have also recently commented on SHLS. Truist Financial reduced their target price on Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Citigroup raised shares of Shoals Technologies Group from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $5.00 to $5.50 in a report on Thursday, October 3rd. Bank of America initiated coverage on shares of Shoals Technologies Group in a research note on Monday, November 25th. They issued a “buy” rating and a $6.00 target price on the stock. Barclays reduced their price target on shares of Shoals Technologies Group from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Finally, Piper Sandler cut their price objective on Shoals Technologies Group from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $9.58.
Get Our Latest Research Report on Shoals Technologies Group
Shoals Technologies Group Price Performance
Shoals Technologies Group (NASDAQ:SHLS – Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The firm had revenue of $102.20 million during the quarter, compared to analysts’ expectations of $98.86 million. During the same period in the previous year, the company earned $0.16 earnings per share. The business’s quarterly revenue was down 23.8% on a year-over-year basis. Equities research analysts anticipate that Shoals Technologies Group will post 0.29 earnings per share for the current fiscal year.
Insider Buying and Selling at Shoals Technologies Group
In other Shoals Technologies Group news, CEO Brandon Moss acquired 22,300 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was acquired at an average cost of $4.55 per share, with a total value of $101,465.00. Following the acquisition, the chief executive officer now directly owns 593,700 shares of the company’s stock, valued at $2,701,335. This represents a 3.90 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 6,460 shares of company stock worth $30,271. 1.67% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in SHLS. FMR LLC raised its stake in shares of Shoals Technologies Group by 48.9% during the third quarter. FMR LLC now owns 5,806 shares of the company’s stock valued at $33,000 after purchasing an additional 1,906 shares in the last quarter. Empirical Asset Management LLC acquired a new position in Shoals Technologies Group during the 4th quarter valued at about $59,000. TrinityPoint Wealth LLC bought a new stake in shares of Shoals Technologies Group during the 3rd quarter worth about $60,000. Mackenzie Financial Corp acquired a new stake in shares of Shoals Technologies Group in the 2nd quarter worth approximately $64,000. Finally, American Trust bought a new position in shares of Shoals Technologies Group in the second quarter valued at approximately $68,000.
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.
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