Shoals Technologies Group (NASDAQ:SHLS) Downgraded to Neutral Rating by Mizuho

Mizuho cut shares of Shoals Technologies Group (NASDAQ:SHLS) from an outperform rating to a neutral rating in a research note issued to investors on Monday, Marketbeat Ratings reports. Mizuho currently has $7.00 price target on the stock.

SHLS has been the subject of several other research reports. Jefferies Financial Group upgraded Shoals Technologies Group from a “hold” rating to a “buy” rating and boosted their target price for the company from $4.90 to $7.20 in a research report on Monday, July 7th. BNP Paribas restated an “underperform” rating and issued a $4.00 price target (down previously from $4.50) on shares of Shoals Technologies Group in a report on Thursday, May 15th. The Goldman Sachs Group boosted their target price on shares of Shoals Technologies Group from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Citigroup increased their price objective on Shoals Technologies Group from $4.50 to $5.50 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Finally, Guggenheim lifted their target price on shares of Shoals Technologies Group from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $8.63.

Shoals Technologies Group Trading Down 0.3%

Shares of SHLS stock opened at $5.81 on Monday. The company has a current ratio of 2.34, a quick ratio of 1.58 and a debt-to-equity ratio of 0.25. Shoals Technologies Group has a 12-month low of $2.71 and a 12-month high of $7.03. The stock’s 50-day moving average price is $5.14 and its 200-day moving average price is $4.41. The stock has a market capitalization of $971.29 million, a price-to-earnings ratio of 48.42, a price-to-earnings-growth ratio of 0.79 and a beta of 1.59.

Shoals Technologies Group (NASDAQ:SHLS) last announced its earnings results on Tuesday, May 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). The business had revenue of $80.36 million for the quarter, compared to analysts’ expectations of $74.66 million. Shoals Technologies Group had a net margin of 4.90% and a return on equity of 7.63%. The firm’s quarterly revenue was down 11.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.07 earnings per share. Equities research analysts predict that Shoals Technologies Group will post 0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Shoals Technologies Group

Several large investors have recently made changes to their positions in SHLS. Cerity Partners LLC purchased a new stake in Shoals Technologies Group in the 1st quarter worth $43,000. MQS Management LLC acquired a new stake in shares of Shoals Technologies Group during the 1st quarter worth approximately $43,000. American Trust purchased a new stake in Shoals Technologies Group in the fourth quarter valued at $72,000. 49 Wealth Management LLC acquired a new position in Shoals Technologies Group in the fourth quarter valued at about $74,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Shoals Technologies Group in the 1st quarter worth approximately $44,000.

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.