Shoals Technologies Group, Inc. (NASDAQ:SHLS) Given Average Rating of “Moderate Buy” by Analysts

Shoals Technologies Group, Inc.  (NASDAQ:SHLS) Given Average Rating of “Moderate Buy” by Analysts

Shoals Technologies Group logoShoals Technologies Group, Inc. (NASDAQ:SHLS – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating for the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $31.63.

A number of analysts have recently issued reports on SHLS shares. Northland Securities upgraded shares of Shoals Technologies Group from a “market perform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research note on Tuesday, May 9th. Guggenheim raised Shoals Technologies Group from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Tuesday, May 9th. The Goldman Sachs Group raised Shoals Technologies Group from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $20.00 to $22.00 in a report on Thursday, March 30th. Barclays lowered Shoals Technologies Group from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $27.00 to $19.00 in a report on Tuesday, May 2nd. Finally, Truist Financial boosted their target price on shares of Shoals Technologies Group from $32.00 to $35.00 in a research note on Tuesday, May 9th.

Insider Buying and Selling

In other Shoals Technologies Group news, General Counsel Mehgan Peetz sold 7,279 shares of the company’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $24.78, for a total value of $180,373.62. Following the sale, the general counsel now owns 83,375 shares in the company, valued at $2,066,032.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.67% of the stock is owned by insiders.

Institutional Inflows and Outflows

Want More Great Investment Ideas?

A number of large investors have recently added to or reduced their stakes in the business. TFC Financial Management Inc. lifted its position in Shoals Technologies Group by 511.6% during the fourth quarter. TFC Financial Management Inc. now owns 1,315 shares of the company’s stock valued at $32,000 after purchasing an additional 1,100 shares during the last quarter. MetLife Investment Management LLC bought a new stake in shares of Shoals Technologies Group in the 1st quarter valued at approximately $36,000. Toroso Investments LLC bought a new stake in shares of Shoals Technologies Group in the 3rd quarter valued at approximately $44,000. Captrust Financial Advisors lifted its stake in shares of Shoals Technologies Group by 89.8% in the 1st quarter. Captrust Financial Advisors now owns 3,162 shares of the company’s stock valued at $54,000 after purchasing an additional 1,496 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab AS bought a new stake in shares of Shoals Technologies Group in the 1st quarter worth about $59,000.

Shoals Technologies Group Trading Down 2.3 %

NASDAQ SHLS opened at $25.35 on Monday. Shoals Technologies Group has a one year low of $13.92 and a one year high of $32.43. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of 27.86 and a beta of 2.06. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.69 and a current ratio of 2.83. The firm has a 50-day simple moving average of $24.19 and a 200-day simple moving average of $23.98.

Shoals Technologies Group (NASDAQ:SHLS – Get Free Report) last announced its earnings results on Monday, May 8th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.04. The company had revenue of $105.09 million for the quarter, compared to the consensus estimate of $98.64 million. Shoals Technologies Group had a return on equity of 29.36% and a net margin of 38.26%. Equities research analysts anticipate that Shoals Technologies Group will post 0.49 EPS for the current fiscal year.

About Shoals Technologies Group

(Get Free Report

Shoals Technologies Group, Inc provides electrical balance of system (EBOS) solutions and components for solar, battery energy, and electric vehicle charging applications in the United States. It produces EBOS components, including cable assemblies, inline fuses, combiners, disconnects, recombiners, wireless monitoring systems, junction boxes, transition enclosures, splice boxes, and wire management solutions.

Further Reading

Analyst Recommendations for Shoals Technologies Group (NASDAQ:SHLS)

Receive News & Ratings for Shoals Technologies Group Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Shoals Technologies Group and related companies with MarketBeat.com’s FREE daily email newsletter.