Shoals Technologies Group, Inc. (NASDAQ:SHLS – Get Free Report) has been given an average rating of “Hold” by the twenty-one brokerages that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $12.55.
SHLS has been the subject of a number of recent analyst reports. Barclays reaffirmed an “equal weight” rating and set a $7.00 price target on shares of Shoals Technologies Group in a report on Thursday, October 10th. JPMorgan Chase & Co. dropped their price target on Shoals Technologies Group from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Jefferies Financial Group initiated coverage on Shoals Technologies Group in a report on Wednesday, September 4th. They set a “hold” rating and a $5.00 price target for the company. Citigroup raised Shoals Technologies Group from a “sell” rating to a “neutral” rating and raised their price target for the company from $5.00 to $5.50 in a report on Thursday, October 3rd. Finally, Northland Securities lowered their target price on Shoals Technologies Group from $6.00 to $4.00 and set an “underperform” rating for the company in a research note on Thursday, August 8th.
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Shoals Technologies Group Price Performance
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC bought a new position in Shoals Technologies Group during the third quarter worth about $255,000. SCP Investment LP lifted its holdings in shares of Shoals Technologies Group by 208.3% in the third quarter. SCP Investment LP now owns 88,800 shares of the company’s stock valued at $498,000 after purchasing an additional 60,000 shares in the last quarter. Corbyn Investment Management Inc. MD lifted its holdings in shares of Shoals Technologies Group by 7.6% in the third quarter. Corbyn Investment Management Inc. MD now owns 155,778 shares of the company’s stock valued at $874,000 after purchasing an additional 10,975 shares in the last quarter. TrinityPoint Wealth LLC bought a new stake in shares of Shoals Technologies Group in the third quarter valued at about $60,000. Finally, Impax Asset Management Group plc lifted its holdings in shares of Shoals Technologies Group by 19.4% in the third quarter. Impax Asset Management Group plc now owns 1,533,377 shares of the company’s stock valued at $8,602,000 after purchasing an additional 249,582 shares in the last quarter.
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.
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