Shoals Technologies Group, Inc. (NASDAQ:SHLS) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLSGet Rating) have been assigned an average recommendation of “Hold” from the fifteen analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $32.12.

A number of research analysts recently weighed in on the stock. Credit Suisse Group increased their price objective on shares of Shoals Technologies Group from $26.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday, January 17th. Northland Securities upgraded shares of Shoals Technologies Group from a “market perform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research report on Tuesday, November 15th. Piper Sandler increased their price target on shares of Shoals Technologies Group from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 15th. Cowen decreased their price target on shares of Shoals Technologies Group from $37.50 to $35.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Morgan Stanley decreased their price target on shares of Shoals Technologies Group from $36.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 10th.

Insiders Place Their Bets

In other news, CEO Jason R. Whitaker sold 65,675 shares of the firm’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $29.91, for a total value of $1,964,339.25. Following the completion of the sale, the chief executive officer now owns 602,639 shares in the company, valued at approximately $18,024,932.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Jason R. Whitaker sold 12,054 shares of the firm’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $28.58, for a total value of $344,503.32. Following the completion of the sale, the chief executive officer now owns 543,180 shares in the company, valued at approximately $15,524,084.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jason R. Whitaker sold 65,675 shares of the firm’s stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $29.91, for a total transaction of $1,964,339.25. Following the completion of the sale, the chief executive officer now owns 602,639 shares of the company’s stock, valued at approximately $18,024,932.49. The disclosure for this sale can be found here. Insiders sold 655,417 shares of company stock valued at $14,762,582 in the last three months. Corporate insiders own 1.67% of the company’s stock.

Institutional Investors Weigh In On Shoals Technologies Group

Several institutional investors have recently made changes to their positions in the company. Diversified Trust Co bought a new stake in shares of Shoals Technologies Group in the 4th quarter worth about $213,000. Assenagon Asset Management S.A. bought a new stake in Shoals Technologies Group during the 4th quarter valued at about $288,000. Green Alpha Advisors LLC lifted its holdings in Shoals Technologies Group by 2.0% during the 4th quarter. Green Alpha Advisors LLC now owns 42,141 shares of the company’s stock valued at $1,040,000 after buying an additional 826 shares in the last quarter. CHURCHILL MANAGEMENT Corp bought a new stake in Shoals Technologies Group during the 4th quarter valued at about $2,426,000. Finally, Renaissance Capital LLC lifted its holdings in Shoals Technologies Group by 19.7% during the 4th quarter. Renaissance Capital LLC now owns 50,522 shares of the company’s stock valued at $1,246,000 after buying an additional 8,329 shares in the last quarter. Institutional investors own 81.94% of the company’s stock.

Shoals Technologies Group Trading Up 2.6 %

Shares of NASDAQ SHLS opened at $27.36 on Monday. The firm’s 50 day moving average price is $26.29 and its 200-day moving average price is $23.73. The company has a market cap of $4.58 billion, a PE ratio of 304.03 and a beta of 2.15. Shoals Technologies Group has a 52-week low of $9.58 and a 52-week high of $32.43. The company has a debt-to-equity ratio of 12.13, a quick ratio of 1.45 and a current ratio of 2.60.

Shoals Technologies Group (NASDAQ:SHLSGet Rating) last issued its earnings results on Monday, November 14th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. The firm had revenue of $90.82 million for the quarter, compared to the consensus estimate of $82.92 million. Shoals Technologies Group had a net margin of 4.70% and a return on equity of 453.46%. On average, equities research analysts expect that Shoals Technologies Group will post 0.23 EPS for the current fiscal year.

Shoals Technologies Group Company Profile

(Get Rating)

Shoals Technologies Group, Inc provides electrical balance of system (EBOS) solutions for solar energy projects in the United States. It produces EBOS components, including cable assemblies, inline fuses, combiners, disconnects, recombiners, wireless monitoring systems, junction boxes, transition enclosures, splice boxes, wire management solutions, and IV curve benchmarking devices.

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Analyst Recommendations for Shoals Technologies Group (NASDAQ:SHLS)

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