Shoals Technologies Group (NASDAQ:SHLS) Downgraded by Roth Capital

Roth Capital lowered shares of Shoals Technologies Group (NASDAQ:SHLS) from a buy rating to a neutral rating in a research report released on Tuesday, Zacks.com reports.

Other research analysts have also issued research reports about the stock. The Goldman Sachs Group dropped 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 report on Friday, March 1st. JPMorgan Chase & Co. dropped their price objective on shares of Shoals Technologies Group from $32.00 to $26.00 and set an overweight rating for the company in a report on Thursday, February 29th. Oppenheimer dropped their price objective on shares of Shoals Technologies Group from $42.00 to $17.00 and set an outperform rating for the company in a report on Thursday, February 29th. Royal Bank of Canada decreased their price target on shares of Shoals Technologies Group from $20.00 to $17.00 and set an outperform rating on the stock in a research note on Thursday, February 29th. Finally, Northland Securities reissued an underperform rating and set a $6.00 price target (down from $12.00) on shares of Shoals Technologies Group in a research note on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $17.29.

Shoals Technologies Group Stock Up 2.2 %

Shares of SHLS opened at $7.68 on Tuesday. The company has a 50-day simple moving average of $10.50 and a 200-day simple moving average of $13.25. The firm has a market capitalization of $1.31 billion, a P/E ratio of 30.20 and a beta of 1.86. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.88 and a current ratio of 2.45. Shoals Technologies Group has a 52 week low of $7.27 and a 52 week high of $28.34.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.11 EPS 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 for the quarter, compared to analyst estimates of $131.89 million. On average, equities research analysts expect that Shoals Technologies Group will post 0.5 earnings per share for the current year.

Hedge Funds Weigh In On Shoals Technologies Group

A number of hedge funds and other institutional investors 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 last quarter. ANTIPODES PARTNERS Ltd acquired a new stake in Shoals Technologies Group in the fourth quarter worth $33,000. Headlands Technologies LLC raised its holdings in Shoals Technologies Group by 101.4% in the third quarter. Headlands Technologies LLC now owns 4,459 shares of the company’s stock worth $81,000 after purchasing an additional 2,245 shares during the period. Trium Capital LLP acquired a new stake in Shoals Technologies Group in the third quarter worth $93,000. Finally, iA Global Asset Management Inc. acquired a new stake in Shoals Technologies Group in the third quarter worth $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.