Shoals Technologies Group (NASDAQ:SHLS) PT Lowered to $16.00 at Mizuho

Shoals Technologies Group (NASDAQ:SHLSFree Report) had its price target cut by Mizuho from $18.00 to $16.00 in a research report released on Friday, Benzinga reports. They currently have a buy rating on the stock.

SHLS has been the topic of a number of other research reports. Truist Financial reissued a buy rating and issued a $20.00 target price (down previously from $23.00) on shares of Shoals Technologies Group in a report on Thursday, February 29th. JPMorgan Chase & Co. dropped their target price on Shoals Technologies Group from $32.00 to $26.00 and set an overweight rating on the stock in a report on Thursday, February 29th. Oppenheimer dropped their target price on Shoals Technologies Group from $42.00 to $17.00 and set an outperform rating on the stock in a report on Thursday, February 29th. Janney Montgomery Scott initiated coverage on Shoals Technologies Group in a report on Friday, January 19th. They issued a buy rating and a $20.00 target price on the stock. Finally, Barclays dropped their price objective on 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. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Shoals Technologies Group currently has an average rating of Moderate Buy and an average price target of $20.94.

Read Our Latest Stock Report on Shoals Technologies Group

Shoals Technologies Group Price Performance

Shares of NASDAQ SHLS opened at $8.29 on Friday. The company has a current ratio of 2.45, a quick ratio of 1.88 and a debt-to-equity ratio of 0.33. Shoals Technologies Group has a twelve month low of $8.06 and a twelve month high of $28.34. The stock has a 50 day moving average of $12.38 and a two-hundred day moving average of $13.91. The stock has a market cap of $1.41 billion, a P/E ratio of 33.16 and a beta of 1.79.

Shoals Technologies Group (NASDAQ:SHLSGet Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.04). Shoals Technologies Group had a net margin of 8.18% and a return on equity of 16.02%. The firm had revenue of $130.44 million during the quarter, compared to analysts’ expectations of $131.89 million. On average, research analysts forecast that Shoals Technologies Group will post 0.51 earnings per share for the current year.

Institutional Trading of Shoals Technologies Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc lifted its position in shares of Shoals Technologies Group by 73.5% in the second quarter. IFP Advisors Inc now owns 1,223 shares of the company’s stock valued at $31,000 after acquiring an additional 518 shares in the last quarter. Citigroup Inc. lifted its position in shares of Shoals Technologies Group by 1.9% in the first quarter. Citigroup Inc. now owns 27,663 shares of the company’s stock valued at $630,000 after acquiring an additional 526 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Shoals Technologies Group by 9.1% in the second quarter. PNC Financial Services Group Inc. now owns 6,810 shares of the company’s stock valued at $174,000 after acquiring an additional 568 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Shoals Technologies Group by 1.4% in the third quarter. Arizona State Retirement System now owns 48,353 shares of the company’s stock valued at $882,000 after acquiring an additional 689 shares in the last quarter. Finally, Assetmark Inc. lifted 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 acquiring an additional 765 shares in the last quarter.

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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Analyst Recommendations for Shoals Technologies Group (NASDAQ:SHLS)

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