Shoals Technologies Group (NASDAQ:SHLS) Given New $14.00 Price Target at Cantor Fitzgerald

Shoals Technologies Group (NASDAQ:SHLS) had its price target decreased by Cantor Fitzgerald from $24.00 to $14.00 in a report released on Wednesday morning, Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.

A number of other equities research analysts also recently weighed in on SHLS. Truist Financial restated a buy rating and set a $20.00 target price (down previously from $23.00) on shares of Shoals Technologies Group in a research report on Thursday, February 29th. UBS Group reduced their target price on shares of Shoals Technologies Group from $28.00 to $20.00 and set a buy rating on the stock in a research note on Friday, March 1st. Janney Montgomery Scott started coverage on shares of Shoals Technologies Group in a research report on Friday, January 19th. They set a buy rating and a $20.00 price target for the company. JPMorgan Chase & Co. cut their price objective on shares of Shoals Technologies Group from $32.00 to $26.00 and set an overweight rating on the stock in a report on Thursday, February 29th. Finally, The Goldman Sachs Group dropped their target price on shares of Shoals Technologies Group from $26.00 to $23.00 and set a buy rating for the company in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $18.06.

Shoals Technologies Group Trading Up 0.9 %

SHLS stock opened at $7.58 on Wednesday. The business has a fifty day moving average price of $10.50 and a 200 day moving average price of $13.25. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.45 and a quick ratio of 1.88. Shoals Technologies Group has a fifty-two week low of $7.27 and a fifty-two week high of $28.34. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 30.04 and a beta of 1.86.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.04). Shoals Technologies Group had a return on equity of 16.02% and a net margin of 8.18%. The company had revenue of $130.44 million for the quarter, compared to analyst estimates of $131.89 million. Analysts expect that Shoals Technologies Group will post 0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Shoals Technologies Group

Hedge funds have recently bought and sold shares of the stock. Assetmark Inc. grew its position in shares of Shoals Technologies Group by 92.7% in the third quarter. Assetmark Inc. now owns 1,590 shares of the company’s stock valued at $29,000 after purchasing an additional 765 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in Shoals Technologies Group in the 4th quarter valued at $33,000. Headlands Technologies LLC boosted its stake in Shoals Technologies Group by 101.4% in the 3rd quarter. Headlands Technologies LLC now owns 4,459 shares of the company’s stock valued at $81,000 after purchasing an additional 2,245 shares during the period. Trium Capital LLP bought a new stake in shares of Shoals Technologies Group in the third quarter valued at about $93,000. Finally, iA Global Asset Management Inc. acquired a new position in shares of Shoals Technologies Group in the third quarter valued at about $102,000.

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.