Analysts Set Shoals Technologies Group, Inc. (NASDAQ:SHLS) PT at $10.60

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) have been given a consensus recommendation of “Hold” by the twenty-two research firms that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $10.08.

Several brokerages have issued reports on SHLS. JPMorgan Chase & Co. cut their price objective on shares of Shoals Technologies Group from $14.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Wells Fargo & Company started coverage on Shoals Technologies Group in a report on Monday, October 14th. They set an “equal weight” rating and a $46.00 price target for the company. Piper Sandler lowered their price objective on Shoals Technologies Group from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Barclays reduced their target price on shares of Shoals Technologies Group from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Finally, The Goldman Sachs Group lowered their price target on shares of Shoals Technologies Group from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, December 17th.

Shoals Technologies Group Stock Performance

Shares of NASDAQ SHLS opened at $4.62 on Friday. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $770.15 million, a P/E ratio of 23.10, a P/E/G ratio of 0.54 and a beta of 1.64. Shoals Technologies Group has a 12 month low of $4.07 and a 12 month high of $17.50. The stock has a 50 day moving average of $5.07 and a 200-day moving average of $5.51.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.02). The company had revenue of $102.20 million during the quarter, compared to analyst estimates of $98.86 million. Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. Shoals Technologies Group’s revenue for the quarter was down 23.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 earnings per share. As a group, equities research analysts predict that Shoals Technologies Group will post 0.29 EPS for the current year.

Insider Buying and Selling at Shoals Technologies Group

In related news, CEO Brandon Moss bought 22,300 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were purchased at an average price of $4.55 per share, for a total transaction of $101,465.00. Following the completion of the transaction, the chief executive officer now directly owns 593,700 shares of the company’s stock, valued at approximately $2,701,335. This represents a 3.90 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders have sold a total of 6,460 shares of company stock worth $30,271 over the last 90 days. Insiders own 0.36% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SHLS. FMR LLC boosted its holdings in shares of Shoals Technologies Group by 48.9% during the 3rd quarter. FMR LLC now owns 5,806 shares of the company’s stock valued at $33,000 after acquiring an additional 1,906 shares in the last quarter. Empirical Asset Management LLC acquired a new stake in shares of Shoals Technologies Group during the fourth quarter valued at about $59,000. TrinityPoint Wealth LLC acquired a new stake in shares of Shoals Technologies Group during the third quarter valued at about $60,000. Mackenzie Financial Corp bought a new stake in shares of Shoals Technologies Group during the second quarter worth about $64,000. Finally, American Trust acquired a new position in shares of Shoals Technologies Group in the second quarter valued at approximately $68,000.

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.