Shoals Technologies Group, Inc. (NASDAQ:SHLS) Receives Average Rating of “Hold” from Analysts

Shoals Technologies Group, Inc. (NASDAQ:SHLS) has received a consensus rating of “Hold” from the twenty-two research firms that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $9.48.

SHLS has been the subject of several research analyst reports. Mizuho reduced their price objective on shares of Shoals Technologies Group from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Friday, January 24th. The Goldman Sachs Group reduced their price objective on shares of Shoals Technologies Group from $9.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. Morgan Stanley raised shares of Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and set a $7.00 price objective for the company in a report on Tuesday, December 17th. Bank of America initiated coverage on shares of Shoals Technologies Group in a report on Monday, November 25th. They issued a “buy” rating and a $6.00 price objective for the company. Finally, Guggenheim reduced their price objective on shares of Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, November 21st.

Shoals Technologies Group Stock Performance

Shares of SHLS opened at $3.96 on Tuesday. Shoals Technologies Group has a 1 year low of $3.83 and a 1 year high of $16.85. The company has a market cap of $660.13 million, a price-to-earnings ratio of 19.80, a price-to-earnings-growth ratio of 0.53 and a beta of 1.62. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 2.08. The firm has a fifty day moving average of $4.94 and a 200-day moving average of $5.24.

Insiders Place Their Bets

In other Shoals Technologies Group news, CEO Brandon Moss bought 22,300 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were bought at an average price of $4.55 per share, for a total transaction of $101,465.00. Following the acquisition, the chief executive officer now directly owns 593,700 shares of the company’s stock, valued at approximately $2,701,335. This trade represents a 3.90 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 6,460 shares of company stock worth $30,271. Company insiders own 1.67% of the company’s stock.

Hedge Funds Weigh In On Shoals Technologies Group

Large investors have recently made changes to their positions in the business. FMR LLC increased its holdings in shares of Shoals Technologies Group by 48.9% in the 3rd quarter. FMR LLC now owns 5,806 shares of the company’s stock valued at $33,000 after purchasing an additional 1,906 shares during the period. Empirical Asset Management LLC acquired a new position in shares of Shoals Technologies Group in the 4th quarter valued at about $59,000. TrinityPoint Wealth LLC acquired a new position in shares of Shoals Technologies Group in the 3rd quarter valued at about $60,000. Tower Research Capital LLC TRC increased its holdings in shares of Shoals Technologies Group by 20.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 15,525 shares of the company’s stock valued at $86,000 after purchasing an additional 2,652 shares during the period. Finally, Cibc World Markets Corp acquired a new position in shares of Shoals Technologies Group in the 4th quarter valued at about $87,000.

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.