Shoals Technologies Group (NASDAQ:SHLS) Price Target Lowered to $10.00 at Barclays

Shoals Technologies Group (NASDAQ:SHLS) had its price objective trimmed by Barclays from $12.00 to $10.00 in a research report report published on Thursday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other brokerages also recently weighed in on SHLS. Roth Mkm downgraded shares of Shoals Technologies Group from a buy rating to a neutral rating and lowered their price target for the company from $15.00 to $8.00 in a report on Wednesday, May 8th. Mizuho lowered their target price on shares of Shoals Technologies Group from $16.00 to $13.00 and set a buy rating on the stock in a research note on Wednesday, May 8th. Citigroup lowered Shoals Technologies Group from a buy rating to a sell rating and cut their price target for the stock from $15.00 to $5.00 in a research note on Tuesday, July 2nd. Northland Securities restated an underperform rating and issued a $6.00 price objective (down from $12.00) on shares of Shoals Technologies Group in a research report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. upped their price objective on Shoals Technologies Group from $21.00 to $23.00 and gave the stock an overweight rating in a research note on Tuesday, July 16th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $15.06.

Shoals Technologies Group Trading Down 0.6 %

Shares of SHLS stock opened at $6.59 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.62 and a quick ratio of 1.87. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 36.61 and a beta of 1.76. Shoals Technologies Group has a 1 year low of $5.69 and a 1 year high of $27.86. The firm has a fifty day moving average price of $6.85 and a 200-day moving average price of $10.31.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. Shoals Technologies Group had a return on equity of 13.95% and a net margin of 6.42%. The business had revenue of $90.81 million during the quarter, compared to analysts’ expectations of $94.44 million. As a group, equities analysts predict that Shoals Technologies Group will post 0.43 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. ANTIPODES PARTNERS Ltd purchased a new stake in Shoals Technologies Group during the fourth quarter valued at approximately $33,000. Headlands Technologies LLC bought a new stake in Shoals Technologies Group in the first quarter worth $92,000. CWM LLC lifted its position in Shoals Technologies Group by 1,240.8% in the second quarter. CWM LLC now owns 15,768 shares of the company’s stock worth $98,000 after buying an additional 14,592 shares during the last quarter. Paloma Partners Management Co purchased a new position in Shoals Technologies Group during the first quarter worth $115,000. Finally, Harbour Capital Advisors LLC bought a new position in Shoals Technologies Group during the first quarter valued at $138,000.

Shoals Technologies Group Company Profile

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.