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

Shoals Technologies Group, Inc. (NASDAQ:SHLS) has been given an average rating of “Moderate Buy” by the seventeen research firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $21.18.

Several research analysts have commented on the company. TD Cowen cut their price objective on Shoals Technologies Group from $30.00 to $22.00 and set an “outperform” rating on the stock in a research report on Thursday, February 29th. Cantor Fitzgerald reissued an “overweight” rating and issued a $24.00 price objective on shares of Shoals Technologies Group in a research report on Wednesday, March 13th. Piper Sandler cut their price objective on Shoals Technologies Group from $20.00 to $16.00 and set an “overweight” rating on the stock in a research report on Thursday, February 29th. JPMorgan Chase & Co. cut their price objective on 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. Finally, Royal Bank of Canada dropped 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.

Hedge Funds Weigh In On Shoals Technologies Group

A number of hedge funds have recently bought and sold shares of SHLS. Assetmark Inc. boosted its stake in Shoals Technologies Group by 92.7% in the third quarter. Assetmark Inc. now owns 1,590 shares of the company’s stock valued at $29,000 after acquiring an additional 765 shares during the period. IFP Advisors Inc boosted its stake in Shoals Technologies Group by 73.5% in the second quarter. IFP Advisors Inc now owns 1,223 shares of the company’s stock valued at $31,000 after acquiring an additional 518 shares during the period. ANTIPODES PARTNERS Ltd acquired a new position in Shoals Technologies Group in the fourth quarter valued at approximately $33,000. MetLife Investment Management LLC acquired a new position in Shoals Technologies Group in the first quarter valued at approximately $36,000. Finally, Toroso Investments LLC acquired a new position in Shoals Technologies Group in the third quarter valued at approximately $44,000.

Shoals Technologies Group Trading Up 5.6 %

Shares of SHLS opened at $11.76 on Friday. 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 firm has a market capitalization of $2.00 billion, a P/E ratio of 47.04 and a beta of 1.82. The stock’s fifty day simple moving average is $13.81 and its 200 day simple moving average is $15.13. Shoals Technologies Group has a twelve month low of $11.11 and a twelve month high of $28.34.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.11 EPS 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 company had revenue of $130.44 million during the quarter, compared to analysts’ expectations of $131.89 million. On average, equities research analysts forecast that Shoals Technologies Group will post 0.5 earnings per share for the current year.

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.