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

Shoals Technologies Group, Inc. (NASDAQ:SHLS) has been given a consensus rating of “Hold” by the twenty-three brokerages that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $8.87.

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group reduced their target price on shares of Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Morgan Stanley upgraded Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and set a $7.00 price objective on the stock in a research note on Tuesday, December 17th. Royal Bank of Canada lowered their target price on Shoals Technologies Group from $9.00 to $7.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Guggenheim reduced their price target on Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Finally, Wolfe Research started coverage on Shoals Technologies Group in a research report on Tuesday, February 18th. They set a “peer perform” rating for the company.

Insider Activity

In other news, CEO Brandon Moss sold 21,700 shares of Shoals Technologies Group stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $3.07, for a total value of $66,619.00. Following the transaction, the chief executive officer now directly owns 1,051,303 shares of the company’s stock, valued at $3,227,500.21. The trade was a 2.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders sold 40,575 shares of company stock valued at $123,957. Insiders own 1.67% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC boosted its stake in shares of Shoals Technologies Group by 48.9% during the third quarter. FMR LLC now owns 5,806 shares of the company’s stock worth $33,000 after buying an additional 1,906 shares during the period. Empirical Asset Management LLC acquired a new stake in Shoals Technologies Group during the 4th quarter worth approximately $59,000. TrinityPoint Wealth LLC acquired a new stake in shares of Shoals Technologies Group during the third quarter worth $60,000. American Trust purchased a new position in Shoals Technologies Group in the 4th quarter valued at $72,000. Finally, 49 Wealth Management LLC acquired a new position in shares of Shoals Technologies Group during the fourth quarter worth about $74,000.

Shoals Technologies Group Trading Up 4.6 %

Shares of NASDAQ SHLS opened at $2.94 on Friday. The stock has a fifty day simple moving average of $4.41 and a 200-day simple moving average of $5.00. Shoals Technologies Group has a twelve month low of $2.71 and a twelve month high of $12.98. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $490.10 million, a PE ratio of 14.70, a PEG ratio of 0.52 and a beta of 1.69.

Shoals Technologies Group (NASDAQ:SHLS) last released its earnings results on Wednesday, February 26th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The firm had revenue of $107.00 million during the quarter, compared to analyst estimates of $102.16 million. During the same period in the prior year, the firm earned $0.12 earnings per share. The business’s revenue was down 17.9% compared to the same quarter last year. On average, equities analysts forecast that Shoals Technologies Group will post 0.29 earnings per share for the current 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.