Brokerages Set Shoals Technologies Group, Inc. (NASDAQ:SHLS) PT at $8.87

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) have received an average recommendation of “Hold” from the twenty-three analysts that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $8.87.

A number of equities research analysts recently issued reports on SHLS shares. Mizuho reduced their target price on Shoals Technologies Group from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Jefferies Financial Group reduced their price objective on Shoals Technologies Group from $4.60 to $3.40 and set a “hold” rating on the stock in a research report on Wednesday, March 12th. Piper Sandler dropped their price objective on Shoals Technologies Group from $8.00 to $6.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Royal Bank of Canada reduced their target price on shares of Shoals Technologies Group from $9.00 to $7.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Finally, UBS Group decreased 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 research note on Wednesday, February 26th.

Insider Activity at Shoals Technologies Group

In other Shoals Technologies Group news, CEO Brandon Moss sold 21,700 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $3.07, for a total value of $66,619.00. Following the transaction, the chief executive officer now directly owns 1,051,303 shares of the company’s stock, valued at $3,227,500.21. This trade represents a 2.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 40,575 shares of company stock worth $123,957. 1.67% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Shoals Technologies Group

Several institutional investors and hedge funds have recently modified their holdings of SHLS. Barclays PLC boosted its holdings in Shoals Technologies Group by 25.9% in the 3rd quarter. Barclays PLC now owns 291,242 shares of the company’s stock worth $1,634,000 after acquiring an additional 59,856 shares during the period. Franklin Resources Inc. lifted its position in shares of Shoals Technologies Group by 16.1% during the third quarter. Franklin Resources Inc. now owns 4,748,673 shares of the company’s stock worth $24,836,000 after purchasing an additional 658,617 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new position in shares of Shoals Technologies Group in the third quarter valued at $692,000. Empirical Asset Management LLC acquired a new stake in Shoals Technologies Group during the 4th quarter valued at $59,000. Finally, SG Americas Securities LLC purchased a new stake in Shoals Technologies Group during the 4th quarter worth $185,000.

Shoals Technologies Group Trading Up 1.6 %

NASDAQ:SHLS opened at $3.79 on Friday. The stock has a market capitalization of $632.91 million, a price-to-earnings ratio of 18.95, a PEG ratio of 0.52 and a beta of 1.54. Shoals Technologies Group has a 1 year low of $2.71 and a 1 year high of $9.17. The stock has a fifty day moving average price of $3.36 and a two-hundred day moving average price of $4.42. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 2.08.

Shoals Technologies Group (NASDAQ:SHLS) last posted its 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). Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The firm had revenue of $107.00 million during the quarter, compared to analyst estimates of $102.16 million. During the same period last year, the company posted $0.12 EPS. The firm’s revenue for the quarter was down 17.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Shoals Technologies Group will post 0.29 earnings per share for the current fiscal year.

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.