Shoals Technologies Group (NASDAQ:SHLS) Given New $11.00 Price Target at TD Cowen

Shoals Technologies Group (NASDAQ:SHLS) had its price objective dropped by equities researchers at TD Cowen from $15.00 to $11.00 in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s target price points to a potential upside of 25.00% from the stock’s current price.

Several other research firms have also issued reports on SHLS. Roth Mkm lowered shares of Shoals Technologies Group from a “buy” rating to a “neutral” rating and dropped their target price for the company from $15.00 to $8.00 in a report on Wednesday. JPMorgan Chase & Co. dropped their target price on shares of Shoals Technologies Group from $32.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. The Goldman Sachs Group decreased their target price on shares of Shoals Technologies Group from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, March 1st. Barclays decreased their price objective on shares of Shoals Technologies Group from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 5th. Finally, Janney Montgomery Scott assumed coverage on Shoals Technologies Group in a report on Friday, January 19th. They issued a “buy” rating and a $20.00 target price for the company. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $19.61.

Shoals Technologies Group Price Performance

Shares of NASDAQ:SHLS opened at $8.80 on Wednesday. The firm has a market cap of $1.50 billion, a PE ratio of 35.20 and a beta of 1.86. The firm’s fifty day moving average is $10.79 and its 200-day moving average is $13.34. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.88 and a current ratio of 2.45. Shoals Technologies Group has a 52 week low of $8.06 and a 52 week high of $28.34.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.04). The business had revenue of $130.44 million for the quarter, compared to analyst estimates of $131.89 million. Shoals Technologies Group had a return on equity of 16.02% and a net margin of 8.18%. Sell-side analysts predict that Shoals Technologies Group will post 0.5 earnings per share for the current year.

Institutional Investors Weigh In On Shoals Technologies Group

Several institutional investors have recently added to or reduced their stakes in SHLS. Assetmark Inc. lifted its position in shares of Shoals Technologies Group by 92.7% during the third quarter. Assetmark Inc. now owns 1,590 shares of the company’s stock worth $29,000 after acquiring an additional 765 shares in the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in shares of Shoals Technologies Group during the 4th quarter valued at $33,000. Headlands Technologies LLC lifted its holdings in Shoals Technologies Group by 101.4% during the 3rd quarter. Headlands Technologies LLC now owns 4,459 shares of the company’s stock worth $81,000 after purchasing an additional 2,245 shares in the last quarter. Trium Capital LLP bought a new position in Shoals Technologies Group in the 3rd quarter worth about $93,000. Finally, iA Global Asset Management Inc. purchased a new position in Shoals Technologies Group during the 3rd quarter valued at about $102,000.

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 (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.