Shoals Technologies Group (NASDAQ:SHLS – Get Rating) had its price target cut by equities research analysts at Oppenheimer to $40.00 in a research note issued to investors on Tuesday, Stock Target Advisor reports. The firm currently has a “na” rating on the stock. Oppenheimer’s price objective points to a potential upside of 193.69% from the stock’s previous close.
Other analysts also recently issued research reports about the stock. Colliers Securities reissued a “neutral” rating on shares of Shoals Technologies Group in a report on Wednesday, March 30th. Zacks Investment Research cut shares of Shoals Technologies Group from a “hold” rating to a “sell” rating in a research report on Saturday, January 22nd. Morgan Stanley lowered their price objective on shares of Shoals Technologies Group from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 22nd. Cowen decreased their price target on shares of Shoals Technologies Group to $20.00 and set a “na” rating for the company in a research report on Tuesday. Finally, Northland Securities assumed coverage on shares of Shoals Technologies Group in a research report on Tuesday, May 10th. They issued an “outperform” rating and a $16.00 price target for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $27.50.
Shares of SHLS stock traded up $1.50 during trading hours on Tuesday, hitting $13.62. 97,604 shares of the company were exchanged, compared to its average volume of 3,238,263. Shoals Technologies Group has a 52 week low of $9.58 and a 52 week high of $37.61. The business has a 50 day moving average of $15.11 and a two-hundred day moving average of $20.04.
In other Shoals Technologies Group news, CFO Philip A. Garton sold 100,000 shares of the business’s stock in a transaction on Wednesday, March 23rd. The shares were sold at an average price of $22.00, for a total transaction of $2,200,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.67% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC purchased a new stake in Shoals Technologies Group during the 3rd quarter valued at $524,000. MUFG Securities EMEA plc bought a new stake in Shoals Technologies Group during the 3rd quarter worth approximately $1,676,000. Van ECK Associates Corp lifted its stake in shares of Shoals Technologies Group by 90.5% during the 4th quarter. Van ECK Associates Corp now owns 90,655 shares of the company’s stock valued at $2,203,000 after buying an additional 43,073 shares in the last quarter. Prospera Financial Services Inc purchased a new position in shares of Shoals Technologies Group in the third quarter valued at about $547,000. Finally, KBC Group NV bought a new position in Shoals Technologies Group in the 3rd quarter worth approximately $1,555,000. 67.05% of the stock is currently owned by institutional investors and hedge funds.
About Shoals Technologies Group (Get Rating)
Shoals Technologies Group, Inc provides electrical balance of system (EBOS) solutions for solar energy projects in the United States. It produces EBOS components, including cable assemblies, inline fuses, combiners, disconnects, recombiners, wireless monitoring systems, junction boxes, transition enclosures, splice boxes, wire management solutions, and IV curve benchmarking devices.
- Get a free copy of the StockNews.com research report on Shoals Technologies Group (SHLS)
- The Institutions Are Capping Gains In Take-Two Interactive
- Walmart’s “Everyday Low Prices” Gets Burned By Inflation
- VMWare Inc: Strong Revenues and Excellent Potential
- Time to Ride These 3 Mid Cap Momentum Plays
- Beware The Rebound In Home Depot
Receive News & Ratings for Shoals Technologies Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shoals Technologies Group and related companies with MarketBeat.com's FREE daily email newsletter.