Barclays Lowers Shoals Technologies Group (NASDAQ:SHLS) Price Target to $5.00

Shoals Technologies Group (NASDAQ:SHLS) had its price target reduced by Barclays from $7.00 to $5.00 in a research report released on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities analysts also recently commented on SHLS. Oppenheimer reduced their target price on shares of Shoals Technologies Group from $14.00 to $12.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and set a $11.00 price target on shares of Shoals Technologies Group in a research note on Friday, September 6th. Piper Sandler boosted their price target on Shoals Technologies Group from $8.00 to $10.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Wells Fargo & Company initiated coverage on Shoals Technologies Group in a research note on Monday, October 14th. They set an “equal weight” rating and a $46.00 price target on the stock. Finally, Truist Financial dropped their price target on Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Shoals Technologies Group currently has an average rating of “Hold” and a consensus price target of $12.45.

Shoals Technologies Group Stock Up 2.1 %

Shares of SHLS opened at $4.95 on Wednesday. The firm has a market capitalization of $824.92 million, a P/E ratio of 24.75, a P/E/G ratio of 0.71 and a beta of 1.73. Shoals Technologies Group has a 12-month low of $4.64 and a 12-month high of $17.50. The company has a current ratio of 2.26, a quick ratio of 1.50 and a debt-to-equity ratio of 0.27. The firm has a fifty day moving average price of $5.57 and a 200-day moving average price of $6.24.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.02). The firm had revenue of $102.20 million during the quarter, compared to the consensus estimate of $98.86 million. Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.81%. The business’s revenue was down 23.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.16 earnings per share. Equities research analysts expect that Shoals Technologies Group will post 0.28 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. FMR LLC raised its stake in shares of 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 buying an additional 1,906 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Shoals Technologies Group in the 1st quarter worth $92,000. 1620 Investment Advisors Inc. purchased a new position in shares of Shoals Technologies Group during the 2nd quarter worth $54,000. Mackenzie Financial Corp purchased a new position in Shoals Technologies Group during the 2nd quarter valued at about $64,000. Finally, Paloma Partners Management Co purchased a new position in Shoals Technologies Group during the 1st quarter valued at about $115,000.

About Shoals Technologies Group

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.