Shoals Technologies Group (NASDAQ:SHLS) PT Lowered to $25.00

Shoals Technologies Group (NASDAQ:SHLSGet Rating) had its price objective reduced by Credit Suisse Group from $31.00 to $25.00 in a research report issued on Wednesday, The Fly reports. Credit Suisse Group’s price objective suggests a potential upside of 67.22% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Zacks Investment Research lowered Shoals Technologies Group from a “hold” rating to a “sell” rating in a research report on Saturday, January 22nd. Cowen decreased their target price on Shoals Technologies Group to $20.00 and set a “na” rating on the stock in a report on Tuesday. Truist Financial decreased their target price on Shoals Technologies Group from $34.00 to $20.00 and set a “hold” rating on the stock in a report on Monday, January 24th. Morgan Stanley decreased their target price on Shoals Technologies Group from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 22nd. Finally, Piper Sandler decreased their target price on Shoals Technologies Group to $15.00 and set a “na” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $25.92.

Shares of SHLS stock opened at $14.95 on Wednesday. The stock has a fifty day moving average price of $14.96 and a 200 day moving average price of $19.83. Shoals Technologies Group has a one year low of $9.58 and a one year high of $37.61. The stock has a market cap of $2.50 billion, a P/E ratio of 299.00 and a beta of 2.76.

Shoals Technologies Group (NASDAQ:SHLSGet Rating) last issued its earnings results on Monday, May 16th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Shoals Technologies Group had a negative return on equity of 137.97% and a net margin of 3.33%. The company had revenue of $67.98 million for the quarter, compared to the consensus estimate of $69.97 million. The business’s quarterly revenue was up 49.1% compared to the same quarter last year. Research analysts anticipate that Shoals Technologies Group will post 0.28 EPS for the current fiscal year.

In other news, CFO Philip A. Garton sold 100,000 shares of the company’s stock in a transaction on Wednesday, March 23rd. The stock was sold at an average price of $22.00, for a total transaction of $2,200,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.67% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Capital World Investors increased its holdings in Shoals Technologies Group by 69.4% in the 3rd quarter. Capital World Investors now owns 8,893,426 shares of the company’s stock worth $247,949,000 after purchasing an additional 3,641,933 shares in the last quarter. Norges Bank acquired a new stake in shares of Shoals Technologies Group in the fourth quarter valued at about $45,223,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Shoals Technologies Group in the fourth quarter valued at about $44,294,000. Capital Research Global Investors increased its stake in shares of Shoals Technologies Group by 107.7% in the first quarter. Capital Research Global Investors now owns 3,466,612 shares of the company’s stock valued at $59,071,000 after buying an additional 1,797,637 shares during the period. Finally, BlackRock Inc. increased its stake in shares of Shoals Technologies Group by 7.9% in the fourth quarter. BlackRock Inc. now owns 19,878,401 shares of the company’s stock valued at $483,045,000 after buying an additional 1,455,903 shares during the period. 67.05% of the stock is owned by institutional investors.

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.

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