Shoals Technologies Group (NASDAQ:SHLS) Stock Price Up 7.2%

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLSGet Free Report) rose 7.2% during mid-day trading on Tuesday . The company traded as high as $9.05 and last traded at $9.04. Approximately 441,930 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 3,844,851 shares. The stock had previously closed at $8.43.

Wall Street Analysts Forecast Growth

SHLS has been the subject of a number of research analyst reports. Janney Montgomery Scott initiated coverage on shares of Shoals Technologies Group in a research report on Friday, January 19th. They issued a “buy” rating and a $20.00 target price for the company. Mizuho cut their price target on shares of Shoals Technologies Group from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, April 19th. TD Cowen cut their price target on shares of Shoals Technologies Group from $30.00 to $22.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Barclays cut their price target on shares of Shoals Technologies Group from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 5th. Finally, JPMorgan Chase & Co. cut their price target 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. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Shoals Technologies Group currently has an average rating of “Moderate Buy” and an average target price of $20.94.

Get Our Latest Research Report on Shoals Technologies Group

Shoals Technologies Group Stock Up 0.4 %

The business’s 50 day moving average is $11.91 and its 200-day moving average is $13.77. 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 firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 33.96 and a beta of 1.79.

Shoals Technologies Group (NASDAQ:SHLSGet Free Report) last posted its earnings results on Wednesday, February 28th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.04). The firm had revenue of $130.44 million during the quarter, compared to analyst estimates of $131.89 million. Shoals Technologies Group had a net margin of 8.18% and a return on equity of 16.02%. Equities analysts anticipate that Shoals Technologies Group, Inc. will post 0.51 EPS for the current fiscal year.

Institutional Trading of Shoals Technologies Group

Several hedge funds and other institutional investors have recently bought and sold shares of SHLS. Assetmark Inc. grew its position in Shoals Technologies Group by 92.7% in the 3rd quarter. Assetmark Inc. now owns 1,590 shares of the company’s stock worth $29,000 after purchasing an additional 765 shares during the last quarter. ANTIPODES PARTNERS Ltd acquired a new stake in Shoals Technologies Group in the 4th quarter worth $33,000. Exchange Traded Concepts LLC acquired a new stake in Shoals Technologies Group in the 3rd quarter worth $48,000. Headlands Technologies LLC grew its position in Shoals Technologies Group by 101.4% in the 3rd quarter. Headlands Technologies LLC now owns 4,459 shares of the company’s stock worth $81,000 after purchasing an additional 2,245 shares during the last quarter. Finally, Trium Capital LLP acquired a new stake in shares of Shoals Technologies Group during the 3rd quarter valued at about $93,000.

About Shoals Technologies Group

(Get Free Report)

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.

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