Shoals Technologies Group, Inc. (NASDAQ:SHLS) Receives $8.95 Consensus Target Price from Analysts

Shoals Technologies Group, Inc. (NASDAQ:SHLS) has earned a consensus rating of “Hold” from the twenty-three research firms that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $8.87.

A number of research analysts have issued reports on SHLS shares. Bank of America assumed coverage on Shoals Technologies Group in a report on Monday, November 25th. They issued a “buy” rating and a $6.00 price target for the company. Truist Financial lowered their price target on shares of Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Roth Mkm cut their price objective on shares of Shoals Technologies Group from $5.00 to $4.50 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Jefferies Financial Group lowered their target price on shares of Shoals Technologies Group from $4.60 to $3.40 and set a “hold” rating on the stock in a research note on Wednesday. Finally, JPMorgan Chase & Co. cut their price target on Shoals Technologies Group from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd.

Insider Buying and Selling

In other news, CEO Brandon Moss sold 21,700 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $3.07, for a total value of $66,619.00. Following the completion of the sale, the chief executive officer now owns 1,051,303 shares of the company’s stock, valued at $3,227,500.21. This represents a 2.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 40,575 shares of company stock worth $123,957. Insiders own 1.67% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. FMR LLC grew its position in Shoals Technologies Group by 48.9% in the third quarter. FMR LLC now owns 5,806 shares of the company’s stock worth $33,000 after acquiring an additional 1,906 shares during the period. Empirical Asset Management LLC purchased a new position in shares of Shoals Technologies Group during the 4th quarter worth $59,000. TrinityPoint Wealth LLC acquired a new stake in shares of Shoals Technologies Group during the 3rd quarter worth about $60,000. American Trust acquired a new position in Shoals Technologies Group in the fourth quarter valued at about $72,000. Finally, 49 Wealth Management LLC purchased a new position in Shoals Technologies Group during the fourth quarter worth about $74,000.

Shoals Technologies Group Stock Up 4.6 %

NASDAQ:SHLS opened at $2.94 on Friday. 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 company’s fifty day moving average price is $4.41 and its 200-day moving average price is $5.00. Shoals Technologies Group has a 1-year low of $2.71 and a 1-year high of $12.98. The firm has a market capitalization of $490.10 million, a P/E ratio of 14.70, a PEG ratio of 0.52 and a beta of 1.69.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). The company had revenue of $107.00 million for the quarter, compared to analyst estimates of $102.16 million. Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. Shoals Technologies Group’s revenue for the quarter was down 17.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.12 earnings per share. As a group, equities research analysts anticipate that Shoals Technologies Group will post 0.29 EPS for the current year.

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.