Shoals Technologies Group (NASDAQ:SHLS) Price Target Lowered to $4.50 at Roth Mkm

Shoals Technologies Group (NASDAQ:SHLS) had its target price trimmed by Roth Mkm from $5.00 to $4.50 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities research analysts also recently weighed in on SHLS. Morgan Stanley raised shares of Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and set a $7.00 target price on the stock in a research note on Tuesday, December 17th. Barclays dropped their price objective on shares of Shoals Technologies Group from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Truist Financial dropped their price objective on shares of Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. JPMorgan Chase & Co. dropped their price objective on shares of Shoals Technologies Group from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Finally, Oppenheimer dropped their price objective on shares of Shoals Technologies Group from $11.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 28th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $8.95.

Shoals Technologies Group Price Performance

Shares of SHLS opened at $3.88 on Wednesday. Shoals Technologies Group has a fifty-two week low of $3.73 and a fifty-two week high of $16.19. The firm’s 50 day moving average price is $4.89 and its 200 day moving average price is $5.16. The company has a market cap of $646.79 million, a P/E ratio of 19.40, a PEG ratio of 0.52 and a beta of 1.62. The company has a quick ratio of 1.36, a current ratio of 2.08 and a debt-to-equity ratio of 0.26.

Shoals Technologies Group (NASDAQ:SHLS) last announced its earnings results on Wednesday, February 26th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. The business had revenue of $107.00 million for the quarter, compared to analysts’ expectations of $102.16 million. During the same period in the previous year, the company earned $0.12 earnings per share. Shoals Technologies Group’s quarterly revenue was down 17.9% on a year-over-year basis. On average, research analysts forecast that Shoals Technologies Group will post 0.29 earnings per share for the current fiscal year.

Institutional Trading of Shoals Technologies Group

Large investors have recently bought and sold shares of the business. FMR LLC boosted its stake in Shoals Technologies Group by 48.9% during the 3rd quarter. FMR LLC now owns 5,806 shares of the company’s stock worth $33,000 after purchasing an additional 1,906 shares during the period. Empirical Asset Management LLC acquired a new stake in Shoals Technologies Group during the 4th quarter worth $59,000. TrinityPoint Wealth LLC acquired a new stake in Shoals Technologies Group during the 3rd quarter worth $60,000. American Trust acquired a new stake in Shoals Technologies Group during the 4th quarter worth $72,000. Finally, 49 Wealth Management LLC acquired a new stake in Shoals Technologies Group during the 4th quarter worth $74,000.

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.