Shoals Technologies Group, Inc. (NASDAQ:SHLS) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) have been given an average recommendation of “Moderate Buy” by the nineteen brokerages that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $17.29.

Several equities research analysts have recently issued reports on SHLS shares. Roth Mkm lowered shares of Shoals Technologies Group from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $15.00 to $8.00 in a research note on Wednesday, May 8th. Northland Securities reaffirmed an “underperform” rating and set a $6.00 target price (down from $12.00) on shares of Shoals Technologies Group in a research note on Wednesday, May 8th. Northland Capmk lowered shares of Shoals Technologies Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 8th. Mizuho decreased their price objective on shares of Shoals Technologies Group from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Finally, Roth Capital downgraded shares of Shoals Technologies Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 7th.

Hedge Funds Weigh In On Shoals Technologies Group

Several hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. increased its position in shares of Shoals Technologies Group by 5.3% during the third quarter. Advisors Asset Management Inc. now owns 18,490 shares of the company’s stock worth $337,000 after acquiring an additional 929 shares during the period. Capstone Investment Advisors LLC raised its holdings in shares of Shoals Technologies Group by 1.7% in the 4th quarter. Capstone Investment Advisors LLC now owns 75,000 shares of the company’s stock valued at $1,166,000 after purchasing an additional 1,237 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Shoals Technologies Group by 14.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,633 shares of the company’s stock worth $181,000 after purchasing an additional 1,429 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Shoals Technologies Group by 1.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 184,913 shares of the company’s stock worth $2,068,000 after purchasing an additional 1,857 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Shoals Technologies Group by 10.6% in the fourth quarter. Principal Financial Group Inc. now owns 19,839 shares of the company’s stock valued at $308,000 after buying an additional 1,898 shares during the last quarter.

Shoals Technologies Group Stock Performance

Shares of Shoals Technologies Group stock opened at $6.24 on Monday. The firm has a market capitalization of $1.06 billion, a P/E ratio of 34.67 and a beta of 1.81. Shoals Technologies Group has a 52 week low of $6.09 and a 52 week high of $28.34. The company has a quick ratio of 1.87, a current ratio of 2.62 and a debt-to-equity ratio of 0.30. The company has a 50 day moving average price of $7.44 and a 200 day moving average price of $11.28.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. Shoals Technologies Group had a return on equity of 13.95% and a net margin of 6.42%. The business had revenue of $90.81 million for the quarter, compared to analyst estimates of $94.44 million. Sell-side analysts expect that Shoals Technologies Group will post 0.44 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.