FY2023 EPS Estimates for Shoals Technologies Group, Inc. (NASDAQ:SHLS) Decreased by Oppenheimer

Shoals Technologies Group, Inc. (NASDAQ:SHLS – Get Rating) – Analysts at Oppenheimer reduced their FY2023 EPS estimates for shares of Shoals Technologies Group in a research note issued to investors on Wednesday, March 1st. Oppenheimer analyst C. Rusch now expects that the company will earn $0.53 per share for the year, down from their previous forecast of $0.61. The consensus estimate for Shoals Technologies Group’s current full-year earnings is $0.53 per share.

SHLS has been the subject of several other research reports. Northland Securities downgraded shares of Shoals Technologies Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $30.00 to $27.00 in a research note on Wednesday, March 1st. Cowen dropped their price target on shares of Shoals Technologies Group from $37.50 to $35.00 and set an “outperform” rating for the company in a research note on Friday, January 20th. Credit Suisse Group raised their price target on shares of Shoals Technologies Group from $26.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, January 17th. Piper Sandler raised their price target on shares of Shoals Technologies Group from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Tuesday, November 15th. Finally, TheStreet downgraded shares of Shoals Technologies Group from a “c-” rating to a “d+” rating in a research note on Thursday, February 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Shoals Technologies Group presently has a consensus rating of “Hold” and an average price target of $31.03.

Shoals Technologies Group Price Performance

Shares of NASDAQ:SHLS opened at $25.62 on Monday. The company has a market cap of $4.29 billion, a price-to-earnings ratio of 30.87 and a beta of 2.17. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.92 and a quick ratio of 1.45. The firm has a 50 day simple moving average of $25.81 and a 200 day simple moving average of $24.85. Shoals Technologies Group has a one year low of $9.58 and a one year high of $32.43.

Insiders Place Their Bets

In other Shoals Technologies Group news, CEO Jason R. Whitaker sold 13,020 shares of the firm’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $25.37, for a total value of $330,317.40. Following the completion of the sale, the chief executive officer now directly owns 563,567 shares in the company, valued at $14,297,694.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Shoals Technologies Group news, CEO Jason R. Whitaker sold 13,020 shares of the firm’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $25.37, for a total value of $330,317.40. Following the completion of the sale, the chief executive officer now directly owns 563,567 shares in the company, valued at $14,297,694.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jason R. Whitaker sold 12,032 shares of the firm’s stock in a transaction on Tuesday, January 24th. The stock was sold at an average price of $28.66, for a total transaction of $344,837.12. Following the completion of the sale, the chief executive officer now owns 519,116 shares of the company’s stock, valued at $14,877,864.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 631,854 shares of company stock worth $13,924,623. 1.67% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SHLS. TFC Financial Management Inc. lifted its stake in shares of Shoals Technologies Group by 511.6% in the fourth quarter. TFC Financial Management Inc. now owns 1,315 shares of the company’s stock valued at $32,000 after buying an additional 1,100 shares in the last quarter. MetLife Investment Management LLC bought a new position in shares of Shoals Technologies Group during the first quarter valued at about $36,000. Toroso Investments LLC bought a new position in shares of Shoals Technologies Group during the third quarter valued at about $44,000. Captrust Financial Advisors lifted its position in shares of Shoals Technologies Group by 89.8% during the first quarter. Captrust Financial Advisors now owns 3,162 shares of the company’s stock valued at $54,000 after purchasing an additional 1,496 shares in the last quarter. Finally, Nisa Investment Advisors LLC bought a new position in shares of Shoals Technologies Group during the second quarter valued at about $55,000. 81.94% of the stock is owned by institutional investors.

Shoals Technologies Group Company Profile

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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.