Shoals Technologies Group (NASDAQ:SHLS) PT Lowered to $30.00 at Truist Financial

Shoals Technologies Group (NASDAQ:SHLS) had its target price trimmed by Truist Financial from $35.00 to $30.00 in a report released on Tuesday, Marketbeat Ratings reports. The firm currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the company. Oppenheimer restated an outperform rating and set a $42.00 price target on shares of Shoals Technologies Group in a research note on Wednesday, August 2nd. JPMorgan Chase & Co. upped their price target on Shoals Technologies Group from $35.00 to $38.00 in a research note on Wednesday, July 19th. Cantor Fitzgerald raised Shoals Technologies Group from a neutral rating to an overweight rating and upped their price objective for the stock from $27.00 to $28.00 in a research report on Tuesday, September 5th. Barclays upped their price objective on Shoals Technologies Group from $19.00 to $20.00 and gave the stock an underweight rating in a research report on Friday, August 4th. Finally, Morgan Stanley cut their price objective on Shoals Technologies Group from $28.00 to $22.00 and set an equal weight rating on the stock in a research report on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $30.54.

Shoals Technologies Group Trading Up 4.2 %

SHLS opened at $21.98 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.71 and a current ratio of 2.59. The business’s 50 day moving average price is $22.61 and its 200 day moving average price is $22.88. Shoals Technologies Group has a one year low of $17.32 and a one year high of $32.43. The stock has a market capitalization of $3.74 billion, a PE ratio of 22.43 and a beta of 2.11.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings results on Tuesday, August 1st. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. Shoals Technologies Group had a return on equity of 21.69% and a net margin of 37.53%. The company had revenue of $119.21 million for the quarter, compared to analysts’ expectations of $111.94 million. As a group, equities research analysts expect that Shoals Technologies Group will post 0.51 EPS for the current year.

Insider Activity at Shoals Technologies Group

In related news, President Jeffery Tolnar sold 1,975 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $21.66, for a total value of $42,778.50. Following the transaction, the president now owns 62,654 shares of the company’s stock, valued at $1,357,085.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Shoals Technologies Group news, President Jeffery Tolnar sold 1,975 shares of the firm’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $21.66, for a total transaction of $42,778.50. Following the transaction, the president now owns 62,654 shares of the company’s stock, valued at $1,357,085.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Mehgan Peetz sold 1,990 shares of the firm’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $21.58, for a total value of $42,944.20. Following the transaction, the general counsel now directly owns 81,385 shares in the company, valued at approximately $1,756,288.30. The disclosure for this sale can be found here. 1.67% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Shoals Technologies Group

Several hedge funds have recently made changes to their positions in the company. IFP Advisors Inc boosted its stake in shares of Shoals Technologies Group by 73.5% during the second quarter. IFP Advisors Inc now owns 1,223 shares of the company’s stock worth $38,000 after buying an additional 518 shares during the period. TFC Financial Management Inc. boosted its stake in shares of Shoals Technologies Group by 511.6% during the fourth quarter. TFC Financial Management Inc. now owns 1,315 shares of the company’s stock worth $32,000 after buying an additional 1,100 shares during the period. Toroso Investments LLC acquired a new stake in shares of Shoals Technologies Group during the third quarter worth about $44,000. MetLife Investment Management LLC acquired a new stake in shares of Shoals Technologies Group during the first quarter worth about $36,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Shoals Technologies Group during the second quarter worth about $57,000.

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 charging applications 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, and wire management solutions.