Shoals Technologies Group (NASDAQ:SHLS) Cut to Neutral at Roth Mkm

Shoals Technologies Group (NASDAQ:SHLS) was downgraded by stock analysts at Roth Mkm from a “buy” rating to a “neutral” rating in a report released on Wednesday, MarketBeat reports. They presently have a $8.00 price target on the stock, down from their previous price target of $15.00. Roth Mkm’s target price indicates a potential downside of 9.09% from the company’s previous close.

SHLS has been the subject of a number of other research reports. Piper Sandler decreased their price target on shares of Shoals Technologies Group from $16.00 to $14.00 and set an “overweight” rating for the company in a research note on Thursday, April 11th. UBS Group decreased their price target on shares of Shoals Technologies Group from $28.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, March 1st. Barclays decreased their price target on shares of Shoals Technologies Group from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 5th. Oppenheimer decreased 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 note on Thursday, February 29th. Finally, The Goldman Sachs Group decreased their price target on shares of Shoals Technologies Group from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, March 1st. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Shoals Technologies Group has a consensus rating of “Moderate Buy” and a consensus price target of $19.61.

Shoals Technologies Group Trading Down 0.6 %

NASDAQ SHLS opened at $8.80 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.45 and a quick ratio of 1.88. The firm’s fifty day moving average price is $10.79 and its 200 day moving average price is $13.34. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 35.20 and a beta of 1.86. 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 posted its earnings results on Wednesday, February 28th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates 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, sell-side analysts expect that Shoals Technologies Group will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shoals Technologies Group

A number of large investors have recently made changes to their positions in SHLS. Assetmark Inc. increased its holdings 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 valued at $29,000 after purchasing an additional 765 shares in the last quarter. ANTIPODES PARTNERS Ltd purchased a new position in shares of Shoals Technologies Group in the 4th quarter valued at about $33,000. Headlands Technologies LLC increased its holdings 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 valued at $81,000 after purchasing an additional 2,245 shares in the last quarter. Trium Capital LLP purchased a new position in shares of Shoals Technologies Group in the 3rd quarter valued at about $93,000. Finally, iA Global Asset Management Inc. purchased a new position in shares of Shoals Technologies Group in the 3rd quarter valued at about $102,000.

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.