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

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLSGet Rating) have received a consensus recommendation of “Hold” from the fourteen ratings firms that are covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $25.50.

A number of brokerages have recently commented on SHLS. Piper Sandler upped their target price on Shoals Technologies Group from $15.00 to $20.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 19th. Truist Financial upgraded Shoals Technologies Group from a “hold” rating to a “buy” rating and increased their price target for the stock from $16.00 to $25.00 in a research report on Thursday, June 9th. UBS Group increased their price target on Shoals Technologies Group to $27.00 in a research report on Thursday, June 9th. Credit Suisse Group lowered their price target on Shoals Technologies Group from $25.00 to $20.00 and set an “outperform” rating on the stock in a research report on Monday, July 25th. Finally, JPMorgan Chase & Co. increased their price target on Shoals Technologies Group from $27.00 to $31.00 in a research report on Wednesday, July 20th.

Shoals Technologies Group Stock Down 0.0 %

Shares of SHLS opened at $23.07 on Monday. Shoals Technologies Group has a 52 week low of $9.58 and a 52 week high of $36.86. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of 462.00 and a beta of 2.40. The stock’s 50-day moving average price is $18.05 and its 200-day moving average price is $16.08.

Shoals Technologies Group (NASDAQ:SHLSGet Rating) last issued its earnings results on Monday, May 16th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). Shoals Technologies Group had a negative return on equity of 179.10% and a net margin of 3.33%. The company had revenue of $67.98 million during the quarter, compared to analysts’ expectations of $69.97 million. The business’s revenue for the quarter was up 49.1% compared to the same quarter last year. As a group, equities analysts anticipate that Shoals Technologies Group will post 0.23 EPS for the current fiscal year.

Insider Activity at Shoals Technologies Group

In related news, Director Ty P. Daul purchased 5,500 shares of the business’s stock in a transaction that occurred on Thursday, June 16th. The stock was purchased at an average price of $17.60 per share, with a total value of $96,800.00. Following the completion of the acquisition, the director now owns 28,591 shares in the company, valued at $503,201.60. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, General Counsel Mehgan Peetz sold 4,940 shares of the stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $15.17, for a total value of $74,939.80. Following the completion of the sale, the general counsel now owns 84,809 shares of the company’s stock, valued at $1,286,552.53. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ty P. Daul purchased 5,500 shares of the business’s stock in a transaction that occurred on Thursday, June 16th. The stock was bought at an average cost of $17.60 per share, with a total value of $96,800.00. Following the acquisition, the director now owns 28,591 shares of the company’s stock, valued at approximately $503,201.60. The disclosure for this purchase can be found here. Insiders own 1.67% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SHLS. Standard Family Office LLC purchased a new position in Shoals Technologies Group in the first quarter worth approximately $25,000. Ulland Investment Advisors LLC grew its position in Shoals Technologies Group by 900.0% in the first quarter. Ulland Investment Advisors LLC now owns 1,500 shares of the company’s stock worth $26,000 after acquiring an additional 1,350 shares during the period. National Bank of Canada FI purchased a new position in Shoals Technologies Group in the fourth quarter worth approximately $29,000. MetLife Investment Management LLC purchased a new position in Shoals Technologies Group in the first quarter worth approximately $36,000. Finally, Captrust Financial Advisors grew its position in Shoals Technologies Group by 89.8% in the first quarter. Captrust Financial Advisors now owns 3,162 shares of the company’s stock worth $54,000 after acquiring an additional 1,496 shares during the period. 67.05% of the stock is currently owned by hedge funds and other institutional investors.

Shoals Technologies Group Company Profile

(Get Rating)

Shoals Technologies Group, Inc provides electrical balance of system (EBOS) solutions for solar energy projects 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, wire management solutions, and IV curve benchmarking devices.

Further Reading

Analyst Recommendations for Shoals Technologies Group (NASDAQ:SHLS)

Receive News & Ratings for Shoals Technologies Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shoals Technologies Group and related companies with MarketBeat.com's FREE daily email newsletter.