Shoals Technologies Group, Inc. (NASDAQ:SHLS) Given Average Rating of “Hold” by Analysts

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) have been assigned a consensus recommendation of “Hold” from the twenty-two analysts that are currently covering the stock, Marketbeat Ratings reports. Three 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 objective among brokerages that have issued ratings on the stock in the last year is $9.48.

Several research analysts have recently weighed in on SHLS shares. JPMorgan Chase & Co. cut their price target on shares of Shoals Technologies Group from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Bank of America started coverage on shares of Shoals Technologies Group in a research report on Monday, November 25th. They set a “buy” rating and a $6.00 price target on the stock. The Goldman Sachs Group reduced their price target on shares of Shoals Technologies Group from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. TD Cowen lifted their price target on shares of Shoals Technologies Group from $9.50 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Oppenheimer reduced their price target on shares of Shoals Technologies Group from $11.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 28th.

Insider Buying and Selling at Shoals Technologies Group

In other Shoals Technologies Group news, CEO Brandon Moss bought 22,300 shares of the stock in a transaction on Thursday, November 21st. The stock was purchased at an average price of $4.55 per share, for a total transaction of $101,465.00. Following the completion of the purchase, the chief executive officer now directly owns 593,700 shares in the company, valued at approximately $2,701,335. This trade represents a 3.90 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 6,460 shares of company stock worth $30,271 over the last 90 days. Insiders own 1.67% of the company’s stock.

Institutional Trading of Shoals Technologies Group

Several institutional investors have recently added to or reduced their stakes in SHLS. FMR LLC increased its stake in 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 during the last quarter. Empirical Asset Management LLC acquired a new position in shares of Shoals Technologies Group during the fourth quarter valued at $59,000. TrinityPoint Wealth LLC acquired a new position in shares of Shoals Technologies Group during the third quarter valued at $60,000. Tower Research Capital LLC TRC boosted its holdings in shares of Shoals Technologies Group by 20.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,525 shares of the company’s stock valued at $86,000 after acquiring an additional 2,652 shares during the period. Finally, Cibc World Markets Corp acquired a new position in shares of Shoals Technologies Group during the fourth quarter valued at $87,000.

Shoals Technologies Group Trading Down 2.0 %

Shares of SHLS stock opened at $3.96 on Tuesday. The firm has a market cap of $660.13 million, a P/E ratio of 19.80, a PEG ratio of 0.53 and a beta of 1.62. Shoals Technologies Group has a 1-year low of $3.83 and a 1-year high of $16.85. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.08 and a quick ratio of 1.36. The firm’s 50-day simple moving average is $4.94 and its 200-day simple moving average is $5.24.

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.