Shoals Technologies Group, Inc. (NASDAQ:SHLS) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) have been given an average recommendation of “Moderate Buy” by the seventeen ratings firms that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $21.06.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position 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 worth $254,241,000 after buying an additional 225,464 shares in the last quarter. BlackRock Inc. boosted its holdings in Shoals Technologies Group by 23.6% in the first quarter. BlackRock Inc. now owns 16,288,180 shares of the company’s stock worth $371,208,000 after acquiring an additional 3,112,106 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Shoals Technologies Group by 28.5% in the fourth quarter. Wellington Management Group LLP now owns 12,910,322 shares of the company’s stock worth $200,626,000 after acquiring an additional 2,864,879 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in Shoals Technologies Group by 2.7% in the fourth quarter. Clearbridge Investments LLC now owns 8,976,984 shares of the company’s stock worth $139,502,000 after acquiring an additional 233,377 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Shoals Technologies Group by 0.8% in the first quarter. Invesco Ltd. now owns 7,063,711 shares of the company’s stock worth $120,365,000 after purchasing an additional 55,184 shares during the last quarter.

Shoals Technologies Group Trading Down 4.2 %

Shares of SHLS stock opened at $8.35 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.88 and a current ratio of 2.45. The firm has a market capitalization of $1.42 billion, a PE ratio of 33.40 and a beta of 1.79. The stock has a fifty day moving average of $12.83 and a two-hundred day moving average of $14.08. Shoals Technologies Group has a 1 year low of $8.23 and a 1 year high of $28.34.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.04). Shoals Technologies Group had a net margin of 8.18% and a return on equity of 16.02%. The firm had revenue of $130.44 million during the quarter, compared to analyst estimates of $131.89 million. As a group, research analysts expect that Shoals Technologies Group will post 0.51 EPS 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.