Shoals Technologies Group (NASDAQ:SHLS) PT Lowered to $11.00 at TD Cowen

Shoals Technologies Group (NASDAQ:SHLS) had its price target cut by TD Cowen from $15.00 to $11.00 in a research note published on Wednesday morning, MarketBeat Ratings reports. They currently have a buy rating on the stock.

Several other equities research analysts have also weighed in on SHLS. Piper Sandler lowered their price objective on Shoals Technologies Group from $16.00 to $14.00 and set an overweight rating on the stock in a research note on Thursday, April 11th. Oppenheimer lowered their price target on Shoals Technologies Group from $42.00 to $17.00 and set an outperform rating on the stock in a research report on Thursday, February 29th. JPMorgan Chase & Co. cut their price objective on Shoals Technologies Group from $32.00 to $26.00 and set an overweight rating for the company in a report on Thursday, February 29th. Cantor Fitzgerald reaffirmed an overweight rating and issued a $24.00 target price on shares of Shoals Technologies Group in a report on Wednesday, March 13th. Finally, The Goldman Sachs Group cut their price target on shares of Shoals Technologies Group from $26.00 to $23.00 and set a buy rating for the company in a report on Friday, March 1st. One equities 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 data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $18.06.

Shoals Technologies Group Stock Down 14.7 %

NASDAQ SHLS opened at $7.51 on Wednesday. Shoals Technologies Group has a twelve month low of $7.27 and a twelve month high of $28.34. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.88 and a current ratio of 2.45. The stock has a market cap of $1.28 billion, a PE ratio of 30.04 and a beta of 1.86. The firm has a 50-day simple moving average of $10.50 and a 200 day simple moving average of $13.25.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $130.44 million during the quarter, compared to the consensus estimate of $131.89 million. On average, research analysts forecast that Shoals Technologies Group will post 0.5 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Assetmark Inc. grew its position in 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 in the last quarter. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Shoals Technologies Group in the fourth quarter valued at about $33,000. Headlands Technologies LLC raised its holdings in Shoals Technologies Group by 101.4% during the third quarter. Headlands Technologies LLC now owns 4,459 shares of the company’s stock worth $81,000 after acquiring an additional 2,245 shares in the last quarter. Trium Capital LLP acquired a new position in Shoals Technologies Group during the third quarter valued at approximately $93,000. Finally, iA Global Asset Management Inc. bought a new position in Shoals Technologies Group in the third quarter valued at approximately $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.