Shoals Technologies Group, Inc. (NASDAQ:SHLS) Receives Average Recommendation of "Hold" from Analysts – MarketBeat
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Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS – Get Rating) have earned a consensus recommendation of “Hold” from the fifteen ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $30.75.
A number of equities analysts recently issued reports on the company. Credit Suisse Group decreased their price objective on Shoals Technologies Group from $25.00 to $20.00 and set an “outperform” rating for the company in a report on Monday, July 25th. Northland Securities downgraded Shoals Technologies Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 19th. JPMorgan Chase & Co. upped their target price on Shoals Technologies Group from $31.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, August 8th. The Goldman Sachs Group downgraded Shoals Technologies Group from a “buy” rating to a “sell” rating and cut their target price for the stock from $23.00 to $21.00 in a research report on Wednesday, September 7th. Finally, Barclays upped their target price on Shoals Technologies Group from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 16th.
Shoals Technologies Group Stock Down 5.0 %
Shares of Shoals Technologies Group stock opened at $19.99 on Friday. The company has a current ratio of 2.83, a quick ratio of 1.66 and a debt-to-equity ratio of 32.54. The business’s 50 day simple moving average is $24.06 and its 200-day simple moving average is $18.81. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 499.87 and a beta of 2.14. Shoals Technologies Group has a twelve month low of $9.58 and a twelve month high of $36.86.
Shoals Technologies Group (NASDAQ:SHLS – Get Rating) last issued its quarterly earnings data on Monday, August 15th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). Shoals Technologies Group had a negative return on equity of 709.22% and a net margin of 3.08%. The business had revenue of $73.49 million during the quarter, compared to the consensus estimate of $72.89 million. During the same period last year, the company earned $0.08 earnings per share. The business’s quarterly revenue was up 23.1% compared to the same quarter last year. Equities research analysts forecast that Shoals Technologies Group will post 0.22 earnings per share for the current year.
Insider Buying and Selling at Shoals Technologies Group
In other Shoals Technologies Group news, General Counsel Mehgan Peetz sold 2,034 shares of Shoals Technologies Group stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $24.87, for a total transaction of $50,585.58. Following the transaction, the general counsel now directly owns 90,395 shares in the company, valued at approximately $2,248,123.65. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Shoals Technologies Group news, General Counsel Mehgan Peetz sold 2,034 shares of Shoals Technologies Group stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $24.87, for a total transaction of $50,585.58. Following the transaction, the general counsel now directly owns 90,395 shares in the company, valued at approximately $2,248,123.65. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jason R. Whitaker sold 8,333 shares of Shoals Technologies Group stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $25.22, for a total transaction of $210,158.26. Following the transaction, the chief executive officer now owns 688,828 shares in the company, valued at $17,372,242.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,403 shares of company stock valued at $571,282. Corporate insiders own 1.67% of the company’s stock.
Institutional Investors Weigh In On Shoals Technologies Group
A number of institutional investors have recently modified their holdings of SHLS. Standard Family Office LLC acquired a new stake in shares of Shoals Technologies Group during the 1st quarter valued at $25,000. Ulland Investment Advisors LLC boosted its stake in shares of Shoals Technologies Group by 900.0% during the 1st quarter. Ulland Investment Advisors LLC now owns 1,500 shares of the company’s stock valued at $26,000 after buying an additional 1,350 shares during the period. MetLife Investment Management LLC acquired a new stake in shares of Shoals Technologies Group during the 1st quarter valued at $36,000. Captrust Financial Advisors boosted its stake in shares of Shoals Technologies Group by 89.8% during the 1st quarter. Captrust Financial Advisors now owns 3,162 shares of the company’s stock valued at $54,000 after buying an additional 1,496 shares during the period. Finally, Nisa Investment Advisors LLC acquired a new stake in shares of Shoals Technologies Group during the 2nd quarter valued at $55,000. Institutional investors and hedge funds own 63.34% of the company’s stock.
About Shoals Technologies Group
(Get Rating)
Shoals Technologies Group, Inc provides electrical balance of system (EBOS) solutions for solar energy projects 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, wire management solutions, and IV curve benchmarking devices.
Further Reading
- Get a free copy of the StockNews.com research report on Shoals Technologies Group (SHLS)
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