UBS Group Issues Pessimistic Forecast for Shoals Technologies Group (NASDAQ:SHLS) Stock Price

Shoals Technologies Group (NASDAQ:SHLS) had its price target reduced by UBS Group from $7.50 to $7.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently commented on the company. Citigroup lifted their price target on Shoals Technologies Group from $4.50 to $5.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Jefferies Financial Group upgraded Shoals Technologies Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $4.90 to $7.20 in a research note on Monday, July 7th. The Goldman Sachs Group lifted their price objective on Shoals Technologies Group from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. BNP Paribas Exane lowered Shoals Technologies Group from a “neutral” rating to an “underperform” rating and set a $4.00 price objective for the company. in a research note on Thursday, May 15th. Finally, Mizuho lowered Shoals Technologies Group from an “outperform” rating to a “neutral” rating and set a $7.00 price objective for the company. in a research note on Monday, July 14th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $8.87.

Shoals Technologies Group Stock Performance

Shares of SHLS opened at $4.62 on Wednesday. The stock has a 50-day moving average of $5.30 and a two-hundred day moving average of $4.40. Shoals Technologies Group has a one year low of $2.71 and a one year high of $7.00. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.58 and a current ratio of 2.34. The stock has a market cap of $772.37 million, a P/E ratio of 35.54, a P/E/G ratio of 0.63 and a beta of 1.61.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. Shoals Technologies Group had a return on equity of 7.64% and a net margin of 5.27%. The company had revenue of $110.84 million during the quarter, compared to analysts’ expectations of $104.87 million. During the same quarter in the previous year, the firm posted $0.10 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. As a group, research analysts predict that Shoals Technologies Group will post 0.29 EPS for the current year.

Institutional Investors Weigh In On Shoals Technologies Group

Several institutional investors have recently bought and sold shares of SHLS. Wellington Management Group LLP boosted its holdings in Shoals Technologies Group by 51.9% in the 1st quarter. Wellington Management Group LLP now owns 21,615,890 shares of the company’s stock worth $71,765,000 after buying an additional 7,382,548 shares during the last quarter. CenterBook Partners LP acquired a new stake in Shoals Technologies Group in the 1st quarter worth about $12,489,000. T. Rowe Price Investment Management Inc. acquired a new stake in Shoals Technologies Group in the 1st quarter worth about $7,712,000. Pacer Advisors Inc. acquired a new stake in Shoals Technologies Group in the 1st quarter worth about $5,350,000. Finally, Goodlander Investment Management LLC acquired a new stake in Shoals Technologies Group in the 4th quarter worth about $8,295,000.

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.