Shoals Technologies Group, Inc. (NASDAQ:SHLS) Given Consensus Recommendation of “Hold” by Analysts

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) have earned a consensus recommendation of “Hold” from the twenty-three analysts that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $11.31.

SHLS has been the subject of a number of analyst reports. Oppenheimer reduced their price objective on shares of Shoals Technologies Group from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. 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 research note on Thursday, November 21st. Truist Financial reduced their price objective on shares of Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Barclays reduced their price objective on shares of Shoals Technologies Group from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 13th. Finally, UBS Group reduced their price target on shares of Shoals Technologies Group from $12.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th.

Insider Buying and Selling at Shoals Technologies Group

In other news, CEO Brandon Moss purchased 22,300 shares of the stock in a transaction on Thursday, November 21st. The shares were acquired at an average price of $4.55 per share, with a total value of $101,465.00. Following the completion of the acquisition, the chief executive officer now directly owns 593,700 shares of the company’s stock, valued at $2,701,335. This trade represents a 3.90 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On Shoals Technologies Group

Several large investors have recently added to or reduced their stakes in the company. M&G Plc purchased a new position in shares of Shoals Technologies Group in the second quarter worth $7,021,000. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in shares of Shoals Technologies Group by 104.1% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 135,629 shares of the company’s stock worth $846,000 after buying an additional 69,193 shares in the last quarter. Swedbank AB purchased a new position in shares of Shoals Technologies Group in the first quarter worth $25,268,000. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Shoals Technologies Group by 146.9% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 157,000 shares of the company’s stock worth $980,000 after buying an additional 93,400 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Shoals Technologies Group by 34.2% in the third quarter. Handelsbanken Fonder AB now owns 2,711,603 shares of the company’s stock worth $15,212,000 after buying an additional 690,344 shares in the last quarter.

Shoals Technologies Group Trading Up 5.0 %

Shares of NASDAQ SHLS opened at $5.26 on Thursday. Shoals Technologies Group has a 1 year low of $4.07 and a 1 year high of $17.50. The stock has a market cap of $876.84 million, a P/E ratio of 26.30, a price-to-earnings-growth ratio of 0.73 and a beta of 1.73. The firm has a 50-day moving average of $5.31 and a 200 day moving average of $6.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.08 and a quick ratio of 1.36.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). The business had revenue of $102.20 million for the quarter, compared to analysts’ expectations of $98.86 million. Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The company’s revenue was down 23.8% on a year-over-year basis. During the same period last year, the business earned $0.16 earnings per share. As a group, sell-side analysts expect that Shoals Technologies Group will post 0.29 EPS for the current fiscal year.

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.