Shoals Technologies Group, Inc. (NASDAQ:SHLS) Short Interest Update

Shoals Technologies Group, Inc. (NASDAQ:SHLS) saw a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 21,860,000 shares, a decline of 14.0% from the March 31st total of 25,430,000 shares. Based on an average trading volume of 3,990,000 shares, the short-interest ratio is presently 5.5 days. Approximately 13.3% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SHLS. Barclays reduced their price target on shares of Shoals Technologies Group from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 5th. Janney Montgomery Scott started coverage on shares of Shoals Technologies Group in a report on Friday, January 19th. They issued a “buy” rating and a $20.00 target price on the stock. TD Cowen reduced their target price on shares of Shoals Technologies Group from $30.00 to $22.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Oppenheimer reduced their target price on shares of Shoals Technologies Group from $42.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Finally, Mizuho reduced their target price on shares of Shoals Technologies Group from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $20.94.

Institutional Investors Weigh In On Shoals Technologies Group

Several large investors have recently added to or reduced their stakes in the stock. Assetmark Inc. lifted its position in shares of Shoals Technologies Group by 92.7% in the 3rd quarter. Assetmark Inc. now owns 1,590 shares of the company’s stock worth $29,000 after purchasing an additional 765 shares during the period. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Shoals Technologies Group in the 4th quarter worth approximately $33,000. Exchange Traded Concepts LLC purchased a new stake in shares of Shoals Technologies Group in the 3rd quarter worth approximately $48,000. Headlands Technologies LLC lifted its position in shares of Shoals Technologies Group by 101.4% in the 3rd 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 period. Finally, Trium Capital LLP purchased a new stake in shares of Shoals Technologies Group in the 3rd quarter worth approximately $93,000.

Shoals Technologies Group Price Performance

Shoals Technologies Group stock opened at $8.52 on Monday. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 34.08 and a beta of 1.79. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.45 and a quick ratio of 1.88. Shoals Technologies Group has a 1 year low of $8.06 and a 1 year high of $28.34. The firm has a 50-day moving average of $11.59 and a two-hundred day moving average of $13.64.

Shoals Technologies Group (NASDAQ:SHLS) last released 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 during the quarter, compared to analysts’ expectations of $131.89 million. Shoals Technologies Group had a net margin of 8.18% and a return on equity of 16.02%. On average, research analysts forecast that Shoals Technologies Group will post 0.51 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.