Shoals Technologies Group, Inc. (NASDAQ:SHLS) Receives $21.06 Consensus PT from Brokerages

Shoals Technologies Group, Inc. (NASDAQ:SHLS) has received an average rating of “Moderate Buy” from the seventeen brokerages that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $20.94.

Several brokerages have recently issued reports on SHLS. UBS Group cut their target price on shares of Shoals Technologies Group from $28.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, March 1st. Truist Financial restated a “buy” rating and issued a $20.00 target price (down previously from $23.00) on shares of Shoals Technologies Group in a report on Thursday, February 29th. Oppenheimer cut their target price on shares of Shoals Technologies Group from $42.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. JPMorgan Chase & Co. cut their target price on shares of Shoals Technologies Group from $32.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. Finally, Barclays cut their target price on shares of Shoals Technologies Group from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 5th.

Institutional Trading of Shoals Technologies Group

A number of hedge funds have recently modified their holdings of the business. Harbour Capital Advisors LLC bought a new stake in shares of Shoals Technologies Group during the 1st quarter valued at $138,000. Viking Fund Management LLC boosted its holdings in shares of Shoals Technologies Group by 33.3% during the 1st quarter. Viking Fund Management LLC now owns 160,000 shares of the company’s stock valued at $1,789,000 after buying an additional 40,000 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of 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 buying an additional 1,429 shares in the last quarter. SCP Investment LP bought a new stake in shares of Shoals Technologies Group during the 4th quarter valued at $763,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Shoals Technologies Group by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 16,360,439 shares of the company’s stock valued at $254,241,000 after buying an additional 225,464 shares in the last quarter.

Shoals Technologies Group Trading Up 1.0 %

SHLS stock opened at $8.29 on Wednesday. The company has a market capitalization of $1.41 billion, a PE ratio of 33.16 and a beta of 1.79. Shoals Technologies Group has a one year low of $8.06 and a one year high of $28.34. The company’s 50 day moving average price is $12.38 and its two-hundred day moving average price is $13.94. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.88 and a current ratio of 2.45.

Shoals Technologies Group (NASDAQ:SHLS) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.04). The business had revenue of $130.44 million for the quarter, compared to analysts’ expectations of $131.89 million. Shoals Technologies Group had a return on equity of 16.02% and a net margin of 8.18%. As a group, analysts predict that Shoals Technologies Group will post 0.51 earnings per share for the current fiscal year.

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.