Shoals Technologies Group (NASDAQ:SHLS) Trading Up 5.3%

Shoals Technologies Group, Inc. (NASDAQ:SHLS)’s stock price was up 5.3% during trading on Friday . The stock traded as high as $6.76 and last traded at $6.75. Approximately 333,245 shares traded hands during trading, a decline of 93% from the average daily volume of 4,759,747 shares. The stock had previously closed at $6.41.

Analysts Set New Price Targets

Several equities research analysts recently commented on SHLS shares. Cantor Fitzgerald cut their price target on shares of Shoals Technologies Group from $24.00 to $14.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 8th. Roth Capital downgraded shares of Shoals Technologies Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 7th. Roth Mkm downgraded shares of Shoals Technologies Group from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $15.00 to $8.00 in a research report on Wednesday, May 8th. Northland Capmk downgraded shares of Shoals Technologies Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 8th. Finally, Barclays lowered their target price on shares of Shoals Technologies Group from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday, May 9th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Shoals Technologies Group currently has an average rating of “Hold” and a consensus target price of $15.82.

Shoals Technologies Group Stock Performance

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 market cap of $1.17 billion, a PE ratio of 38.17 and a beta of 1.76. The stock’s 50 day simple moving average is $6.97 and its two-hundred day simple moving average is $10.65.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. Shoals Technologies Group had a net margin of 6.42% and a return on equity of 13.95%. The company had revenue of $90.81 million during the quarter, compared to analyst estimates of $94.44 million. As a group, research analysts anticipate that Shoals Technologies Group, Inc. will post 0.44 earnings per share for the current year.

Institutional Investors Weigh In On Shoals Technologies Group

Large investors have recently made changes to their positions in the business. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Shoals Technologies Group in the fourth quarter worth $33,000. Headlands Technologies LLC acquired a new stake in Shoals Technologies Group during the 1st quarter valued at $92,000. Paloma Partners Management Co acquired a new stake in Shoals Technologies Group during the 1st quarter valued at $115,000. Olympiad Research LP acquired a new stake in Shoals Technologies Group during the 4th quarter valued at $167,000. Finally, PNC Financial Services Group Inc. grew its holdings in 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 valued at $181,000 after purchasing an additional 1,429 shares in the last quarter.

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.