Shoals Technologies Group, Inc. (NASDAQ:SHLS) Given Average Rating of “Hold” by Analysts

Shoals Technologies Group, Inc. (NASDAQ:SHLS) has earned an average recommendation of “Hold” from the twenty-three brokerages that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $8.40.

SHLS has been the topic of a number of recent research reports. BNP Paribas Exane cut Shoals Technologies Group from a “neutral” rating to an “underperform” rating and set a $4.00 price objective on the stock. in a research note on Thursday, May 15th. Oppenheimer reduced their price target on Shoals Technologies Group from $11.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 28th. Piper Sandler decreased their price target on Shoals Technologies Group from $8.00 to $6.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Citigroup increased their price objective on shares of Shoals Technologies Group from $4.50 to $5.50 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Finally, BNP Paribas reissued an “underperform” rating and set a $4.00 target price (down from $4.50) on shares of Shoals Technologies Group in a research report on Thursday, May 15th.

Insider Transactions at Shoals Technologies Group

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

Institutional Trading of Shoals Technologies Group

Institutional investors have recently added to or reduced their stakes in the business. MQS Management LLC bought a new position in shares of Shoals Technologies Group in the 1st quarter worth about $43,000. Cerity Partners LLC bought a new stake in shares of Shoals Technologies Group during the 1st quarter valued at about $43,000. Caitong International Asset Management Co. Ltd acquired a new stake in Shoals Technologies Group during the first quarter worth about $44,000. Virtu Financial LLC bought a new position in Shoals Technologies Group in the first quarter worth about $46,000. Finally, FORA Capital LLC acquired a new position in Shoals Technologies Group in the first quarter valued at approximately $51,000.

Shoals Technologies Group Trading Up 0.4%

NASDAQ SHLS opened at $4.59 on Thursday. The firm has a market capitalization of $766.51 million, a price-to-earnings ratio of 22.95, a PEG ratio of 0.52 and a beta of 1.52. 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 has a one year low of $2.71 and a one year high of $8.52. The company’s 50 day moving average price is $3.87 and its 200 day moving average price is $4.32.

Shoals Technologies Group (NASDAQ:SHLS) last issued its earnings results on Tuesday, May 6th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The business had revenue of $80.36 million during the quarter, compared to analysts’ expectations of $74.66 million. Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The business’s revenue was down 11.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 EPS. On average, sell-side analysts predict that Shoals Technologies Group will post 0.29 EPS for the current 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.