Shoals Technologies Group, Inc. (NASDAQ:SHLS) Given Consensus Rating of “Moderate Buy” by Brokerages

Shoals Technologies Group, Inc. (NASDAQ:SHLS) has been assigned a consensus rating of “Moderate Buy” from the twenty-two analysts that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $8.8421.

A number of research analysts have weighed in on SHLS shares. Roth Capital reaffirmed a “buy” rating and issued a $15.00 price objective (up previously from $10.00) on shares of Shoals Technologies Group in a report on Wednesday, November 5th. The Goldman Sachs Group lifted their price target on Shoals Technologies Group from $8.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Guggenheim raised their price objective on Shoals Technologies Group from $8.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, November 11th. Jefferies Financial Group upped their target price on Shoals Technologies Group from $6.00 to $9.00 and gave the stock a “buy” rating in a research note on Monday, September 8th. Finally, Zacks Research lowered Shoals Technologies Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th.

Shoals Technologies Group Stock Up 1.3%

Shoals Technologies Group stock opened at $8.03 on Monday. The business’s 50-day moving average price is $8.98 and its 200 day moving average price is $6.88. The company has a quick ratio of 1.53, a current ratio of 2.19 and a debt-to-equity ratio of 0.21. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 40.15, a price-to-earnings-growth ratio of 1.00 and a beta of 1.71. Shoals Technologies Group has a 52 week low of $2.71 and a 52 week high of $11.36.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 EPS for the quarter, hitting the consensus estimate of $0.12. The business had revenue of $135.80 million for the quarter, compared to analyst estimates of $131.37 million. Shoals Technologies Group had a return on equity of 8.50% and a net margin of 7.66%. As a group, sell-side analysts anticipate that Shoals Technologies Group will post 0.29 earnings per share for the current year.

Insider Activity at Shoals Technologies Group

In other news, CFO Dominic Bardos sold 4,170 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $7.83, for a total transaction of $32,651.10. Following the transaction, the chief financial officer directly owned 412,289 shares in the company, valued at $3,228,222.87. The trade was a 1.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.52% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. CIBC Bancorp USA Inc. acquired a new position in Shoals Technologies Group during the third quarter worth $133,000. Maven Securities LTD raised its holdings in shares of Shoals Technologies Group by 19.9% in the 3rd quarter. Maven Securities LTD now owns 128,912 shares of the company’s stock valued at $955,000 after buying an additional 21,366 shares during the period. Caxton Associates LLP acquired a new position in Shoals Technologies Group during the 3rd quarter worth about $1,407,000. XTX Topco Ltd lifted its stake in Shoals Technologies Group by 98.8% during the 3rd quarter. XTX Topco Ltd now owns 123,975 shares of the company’s stock worth $919,000 after acquiring an additional 61,612 shares in the last quarter. Finally, Verition Fund Management LLC boosted its holdings in Shoals Technologies Group by 4.8% during the 3rd quarter. Verition Fund Management LLC now owns 210,251 shares of the company’s stock valued at $1,558,000 after acquiring an additional 9,657 shares during the period.

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.