Shoals Technologies Group (NASDAQ:SHLS) Price Target Cut to $15.00

Shoals Technologies Group (NASDAQ:SHLS) had its price objective decreased by stock analysts at Roth Mkm from $20.00 to $15.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Roth Mkm’s target price indicates a potential upside of 99.73% from the company’s current price.

SHLS has been the subject of a number of other reports. TD Cowen reduced their price target on shares of Shoals Technologies Group from $30.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. JPMorgan Chase & Co. decreased their target price on Shoals Technologies Group from $32.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. Janney Montgomery Scott initiated coverage on Shoals Technologies Group in a report on Friday, January 19th. They issued a “buy” rating and a $20.00 price target on the stock. Piper Sandler decreased their price objective on Shoals Technologies Group from $16.00 to $14.00 and set an “overweight” rating for the company in a report on Thursday, April 11th. Finally, Royal Bank of Canada lowered their target price on Shoals Technologies Group from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, February 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.06.

Shoals Technologies Group Stock Performance

Shares of SHLS opened at $7.51 on Tuesday. The firm’s fifty day simple moving average is $10.66 and its two-hundred day simple moving average is $13.29. Shoals Technologies Group has a 12 month low of $7.27 and a 12 month high of $28.34. The company has a current ratio of 2.45, a quick ratio of 1.88 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $1.28 billion, a P/E ratio of 30.04 and a beta of 1.86.

Shoals Technologies Group (NASDAQ:SHLS) last issued its earnings results on Wednesday, February 28th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.04). The business had revenue of $130.44 million during the quarter, compared to the consensus estimate of $131.89 million. Shoals Technologies Group had a return on equity of 16.02% and a net margin of 8.18%. As a group, analysts predict that Shoals Technologies Group will post 0.5 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SHLS. Assetmark Inc. raised its position in shares of Shoals Technologies Group by 92.7% in the third quarter. Assetmark Inc. now owns 1,590 shares of the company’s stock worth $29,000 after buying an additional 765 shares in the last quarter. ANTIPODES PARTNERS Ltd purchased a new position in Shoals Technologies Group in the fourth quarter worth $33,000. Headlands Technologies LLC increased its stake in Shoals Technologies Group by 101.4% in the third quarter. Headlands Technologies LLC now owns 4,459 shares of the company’s stock valued at $81,000 after acquiring an additional 2,245 shares during the last quarter. Trium Capital LLP purchased a new stake in Shoals Technologies Group during the third quarter valued at about $93,000. Finally, iA Global Asset Management Inc. bought a new stake in Shoals Technologies Group during the third quarter worth about $102,000.

About Shoals Technologies Group

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.