Shoals Technologies Group, Inc. (NASDAQ:SHLS) Receives $21.06 Average Target Price from Analysts

Shoals Technologies Group, Inc. (NASDAQ:SHLS) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen analysts that are currently 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 1 year price target among brokerages that have issued a report on the stock in the last year is $20.94.

A number of brokerages recently weighed in on SHLS. Truist Financial reissued a “buy” rating and issued a $20.00 price target (down from $23.00) on shares of Shoals Technologies Group in a research report on Thursday, February 29th. JPMorgan Chase & Co. reduced their price target on shares of 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. Oppenheimer reduced their price target on shares of Shoals Technologies Group from $42.00 to $17.00 and set an “outperform” rating for the company in a research report on Thursday, February 29th. Barclays reduced their target price on shares of Shoals Technologies Group from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, March 5th. Finally, The Goldman Sachs Group reduced their target price on shares of Shoals Technologies Group from $26.00 to $23.00 and set a “buy” rating for the company in a report on Friday, March 1st.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Assetmark Inc. grew its position in Shoals Technologies Group by 92.7% during the third quarter. Assetmark Inc. now owns 1,590 shares of the company’s stock worth $29,000 after buying an additional 765 shares during the period. ANTIPODES PARTNERS Ltd acquired a new position in Shoals Technologies Group during the fourth quarter worth about $33,000. Exchange Traded Concepts LLC acquired a new position in Shoals Technologies Group during the third quarter worth about $48,000. Headlands Technologies LLC grew its position in Shoals Technologies Group by 101.4% during the third quarter. Headlands Technologies LLC now owns 4,459 shares of the company’s stock worth $81,000 after buying an additional 2,245 shares during the period. Finally, Trium Capital LLP acquired a new position in Shoals Technologies Group during the third quarter worth about $93,000.

Shoals Technologies Group Stock Performance

Shares of SHLS stock opened at $8.46 on Wednesday. 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 fifty day moving average price of $12.06 and a 200 day moving average price of $13.81. The company has a market cap of $1.44 billion, a P/E ratio of 33.84 and a beta of 1.79. Shoals Technologies Group has a 12 month low of $8.06 and a 12 month high of $28.34.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly 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). 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. Sell-side analysts predict that Shoals Technologies Group will post 0.51 earnings per share for the current fiscal 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.