Shoals Technologies Group (NASDAQ:SHLS) Rating Reiterated by Barclays

Barclays reaffirmed their equal weight rating on shares of Shoals Technologies Group (NASDAQ:SHLS) in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a $7.00 target price on the stock.

A number of other research firms have also weighed in on SHLS. Cantor Fitzgerald reaffirmed an overweight rating and set a $12.00 price objective on shares of Shoals Technologies Group in a research report on Tuesday, September 17th. Oppenheimer lowered their price target on Shoals Technologies Group from $14.00 to $12.00 and set an outperform rating for the company in a research report on Wednesday, August 7th. UBS Group cut their price objective on shares of Shoals Technologies Group from $12.00 to $9.00 and set a buy rating on the stock in a research report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an outperform rating and issued a $11.00 target price on shares of Shoals Technologies Group in a report on Friday, September 6th. Finally, Roth Mkm cut their price target on shares of Shoals Technologies Group from $7.00 to $6.00 and set a neutral rating on the stock in a report on Friday, September 6th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $11.08.

Shoals Technologies Group Trading Up 3.1 %

NASDAQ SHLS opened at $5.31 on Thursday. The firm has a market capitalization of $884.91 million, a PE ratio of 37.93, a P/E/G ratio of 0.74 and a beta of 1.74. The stock’s 50 day moving average is $5.59 and its 200 day moving average is $6.90. Shoals Technologies Group has a twelve month low of $4.85 and a twelve month high of $17.79. The company has a quick ratio of 1.50, a current ratio of 2.26 and a debt-to-equity ratio of 0.27.

Shoals Technologies Group (NASDAQ:SHLS) last released its earnings results on Tuesday, August 6th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. Shoals Technologies Group had a net margin of 5.13% and a return on equity of 12.75%. The firm had revenue of $99.25 million for the quarter, compared to the consensus estimate of $90.57 million. During the same period in the prior year, the firm earned $0.12 EPS. The company’s revenue was down 16.7% compared to the same quarter last year. Research analysts forecast that Shoals Technologies Group will post 0.29 earnings per share for the current fiscal year.

Institutional Trading of Shoals Technologies Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ANTIPODES PARTNERS Ltd increased its stake in shares of Shoals Technologies Group by 122.4% in the 1st quarter. ANTIPODES PARTNERS Ltd now owns 4,793 shares of the company’s stock worth $54,000 after purchasing an additional 2,638 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in Shoals Technologies Group in the second quarter worth about $54,000. Mackenzie Financial Corp bought a new position in shares of Shoals Technologies Group in the second quarter worth about $64,000. American Trust purchased a new position in shares of Shoals Technologies Group during the 2nd quarter valued at about $68,000. Finally, Versor Investments LP bought a new position in shares of Shoals Technologies Group during the 2nd quarter valued at approximately $80,000.

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.