Shoals Technologies Group (NASDAQ:SHLS) Given New $11.00 Price Target at Piper Sandler

Shoals Technologies Group (NASDAQ:SHLS) had its price objective decreased by Piper Sandler from $14.00 to $11.00 in a research note issued to investors on Wednesday, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other analysts have also weighed in on SHLS. Royal Bank of Canada cut their target price on shares of Shoals Technologies Group from $20.00 to $17.00 and set an outperform rating on the stock in a research report on Thursday, February 29th. The Goldman Sachs Group dropped their price target on shares of Shoals Technologies Group from $26.00 to $23.00 and set a buy rating on the stock in a research report on Friday, March 1st. Janney Montgomery Scott started coverage on Shoals Technologies Group in a research report on Friday, January 19th. They set a buy rating and a $20.00 target price on the stock. 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 research note on Thursday, February 29th. Finally, Barclays reduced their price objective on Shoals Technologies Group from $15.00 to $13.00 and set an equal weight rating for the company in a research note on Tuesday, March 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Shoals Technologies Group currently has an average rating of Moderate Buy and an average target price of $18.06.

Shoals Technologies Group Trading Up 0.9 %

Shoals Technologies Group stock opened at $7.58 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.45 and a quick ratio of 1.88. The firm has a 50-day moving average of $10.50 and a 200-day moving average of $13.25. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 30.04 and a beta of 1.86. Shoals Technologies Group has a one year low of $7.27 and a one year high of $28.34.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.04). The company had revenue of $130.44 million for the quarter, compared to analyst estimates of $131.89 million. Shoals Technologies Group had a return on equity of 16.02% and a net margin of 8.18%. On average, equities analysts expect that Shoals Technologies Group will post 0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shoals Technologies Group

A number of institutional investors have recently added to or reduced their stakes in SHLS. Assetmark Inc. increased its holdings in shares of Shoals Technologies Group by 92.7% in the third quarter. Assetmark Inc. now owns 1,590 shares of the company’s stock worth $29,000 after purchasing an additional 765 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new position in Shoals Technologies Group during the 4th quarter valued at about $33,000. Headlands Technologies LLC lifted its stake in Shoals Technologies Group by 101.4% in the third quarter. Headlands Technologies LLC now owns 4,459 shares of the company’s stock worth $81,000 after purchasing an additional 2,245 shares during the last quarter. Trium Capital LLP purchased a new position in shares of Shoals Technologies Group during the third quarter valued at approximately $93,000. Finally, iA Global Asset Management Inc. bought a new position in shares of Shoals Technologies Group during the third quarter valued at approximately $102,000.

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.