Barclays reaffirmed their equal weight rating on shares of Shoals Technologies Group (NASDAQ:SHLS – Free Report) in a research report report published on Thursday morning, Benzinga reports. Barclays currently has a $7.00 target price on the stock.
A number of other equities analysts have also commented on the stock. Truist Financial cut their price objective on shares of Shoals Technologies Group from $10.00 to $8.00 and set a buy rating for the company in a research report on Friday, September 6th. Jefferies Financial Group initiated coverage on shares of Shoals Technologies Group in a research report on Wednesday, September 4th. They issued a hold rating and a $5.00 price objective for the company. Royal Bank of Canada restated an outperform rating and issued a $11.00 price objective on shares of Shoals Technologies Group in a research report on Friday, September 6th. BNP Paribas lowered shares of Shoals Technologies Group from an outperform rating to a neutral rating and cut their price objective for the company from $15.00 to $7.00 in a research report on Wednesday, August 7th. Finally, Northland Securities cut their price objective on shares of Shoals Technologies Group from $6.00 to $4.00 and set an underperform rating for the company in a research report on Thursday, August 8th. Three analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $11.08.
Get Our Latest Analysis on SHLS
Shoals Technologies Group Price Performance
Shoals Technologies Group (NASDAQ:SHLS – Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The firm had revenue of $99.25 million during the quarter, compared to analyst estimates of $90.57 million. Shoals Technologies Group had a net margin of 5.13% and a return on equity of 12.75%. The company’s quarterly revenue was down 16.7% on a year-over-year basis. During the same quarter last year, the business earned $0.12 earnings per share. Equities analysts forecast that Shoals Technologies Group will post 0.29 EPS for the current year.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in the business. Creative Planning raised its stake in shares of Shoals Technologies Group by 115.5% during the third quarter. Creative Planning now owns 33,288 shares of the company’s stock worth $187,000 after acquiring an additional 17,844 shares in the last quarter. Viking Fund Management LLC raised its stake in shares of Shoals Technologies Group by 10.3% during the third quarter. Viking Fund Management LLC now owns 215,000 shares of the company’s stock worth $1,206,000 after acquiring an additional 20,000 shares in the last quarter. Green Alpha Advisors LLC raised its stake in shares of Shoals Technologies Group by 43.5% during the third quarter. Green Alpha Advisors LLC now owns 40,636 shares of the company’s stock worth $228,000 after acquiring an additional 12,324 shares in the last quarter. Handelsbanken Fonder AB raised its stake in shares of Shoals Technologies Group by 34.2% during the third quarter. Handelsbanken Fonder AB now owns 2,711,603 shares of the company’s stock worth $15,212,000 after acquiring an additional 690,344 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Shoals Technologies Group by 24.2% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 542,137 shares of the company’s stock worth $3,383,000 after acquiring an additional 105,797 shares in the last quarter.
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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