Shoals Technologies Group (NASDAQ:SHLS) PT Lowered to $27.00

Shoals Technologies Group (NASDAQ:SHLS) had its target price decreased by Morgan Stanley from $34.00 to $27.00 in a report released on Thursday morning, Analyst Ratings Network reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Roth Capital decreased their target price on shares of Shoals Technologies Group from $44.00 to $37.00 and set a buy rating for the company in a research note on Wednesday, November 10th. Truist started coverage on shares of Shoals Technologies Group in a research note on Friday, October 15th. They set a hold rating and a $34.00 target price for the company. Piper Sandler decreased their target price on shares of Shoals Technologies Group from $42.00 to $39.00 and set an overweight rating for the company in a research note on Friday, January 7th. Barclays decreased their target price on shares of Shoals Technologies Group from $32.00 to $29.00 and set an equal weight rating for the company in a research note on Wednesday, November 10th. Finally, Guggenheim lowered shares of Shoals Technologies Group from a buy rating to a neutral rating in a research note on Wednesday, October 20th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Buy and an average target price of $38.27.

Shoals Technologies Group stock opened at $20.68 on Thursday. The company has a 50 day moving average price of $27.35 and a 200 day moving average price of $29.48. Shoals Technologies Group has a 52 week low of $20.40 and a 52 week high of $44.04.

Shoals Technologies Group (NASDAQ:SHLS) last posted its quarterly earnings data on Tuesday, November 9th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. Shoals Technologies Group had a net margin of 4.14% and a negative return on equity of 78.16%. The firm had revenue of $59.84 million during the quarter, compared to analyst estimates of $62.03 million. Equities analysts forecast that Shoals Technologies Group will post 0.2 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. US Bancorp DE raised its holdings in Shoals Technologies Group by 67.0% in the 2nd quarter. US Bancorp DE now owns 1,526 shares of the company’s stock worth $54,000 after acquiring an additional 612 shares during the period. Captrust Financial Advisors bought a new position in Shoals Technologies Group in the 3rd quarter worth $57,000. Rockefeller Capital Management L.P. raised its holdings in Shoals Technologies Group by 550.7% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 2,245 shares of the company’s stock worth $62,000 after acquiring an additional 1,900 shares during the period. Metropolitan Life Insurance Co NY raised its holdings in Shoals Technologies Group by 183,500.0% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 1,836 shares of the company’s stock worth $65,000 after acquiring an additional 1,835 shares during the period. Finally, CastleArk Alternatives LLC bought a new position in Shoals Technologies Group in the 3rd quarter worth $66,000. Hedge funds and other institutional investors own 65.12% of the company’s stock.

About Shoals Technologies Group

Shoals Technologies Group, Inc provides electrical balance of system (EBOS) solutions for solar energy projects in the United States. It offers EBOS components, such as cable assemblies, inline fuses, combiners, recombiners, disconnects, wireless monitoring systems, junction boxes, transition enclosures, and splice boxes that carry the electric current produced by solar panels to an inverter and to the power grid.

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Analyst Recommendations for Shoals Technologies Group (NASDAQ:SHLS)

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