Shoals Technologies Group (NASDAQ:SHLS) Downgraded by Roth Capital

Roth Capital cut shares of Shoals Technologies Group (NASDAQ:SHLS) from a buy rating to a neutral rating in a report published on Tuesday, Zacks.com reports.

A number of other research firms have also recently commented on SHLS. Barclays cut their price objective on Shoals Technologies Group from $15.00 to $13.00 and set an equal weight rating for the company in a research report on Tuesday, March 5th. JPMorgan Chase & Co. cut their price objective on Shoals Technologies Group from $32.00 to $26.00 and set an overweight rating for the company in a research report on Thursday, February 29th. Royal Bank of Canada cut their price objective on Shoals Technologies Group from $20.00 to $17.00 and set an outperform rating for the company in a research report on Thursday, February 29th. Oppenheimer lowered their price target on Shoals Technologies Group from $42.00 to $17.00 and set an outperform rating on the stock in a research note on Thursday, February 29th. Finally, Piper Sandler lowered their price target on Shoals Technologies Group from $14.00 to $11.00 and set an overweight rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $17.29.

Shoals Technologies Group Stock Up 2.2 %

Shares of SHLS stock opened at $7.68 on Tuesday. The stock has a 50 day moving average of $10.50 and a 200 day moving average of $13.25. The company has a current ratio of 2.45, a quick ratio of 1.88 and a debt-to-equity ratio of 0.33. The stock has a market cap of $1.31 billion, a P/E ratio of 30.20 and a beta of 1.86. Shoals Technologies Group has a twelve month low of $7.27 and a twelve month high of $28.34.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.04). The company had revenue of $130.44 million for the quarter, compared to analysts’ expectations of $131.89 million. Shoals Technologies Group had a net margin of 8.18% and a return on equity of 16.02%. As a group, sell-side analysts expect that Shoals Technologies Group will post 0.5 EPS for the current year.

Hedge Funds Weigh In On Shoals Technologies Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. boosted its stake in Shoals Technologies Group by 92.7% during the third quarter. Assetmark Inc. now owns 1,590 shares of the company’s stock worth $29,000 after buying an additional 765 shares during the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in shares of Shoals Technologies Group in the 4th quarter valued at $33,000. Headlands Technologies LLC lifted its stake in shares of Shoals Technologies Group by 101.4% in the 3rd quarter. Headlands Technologies LLC now owns 4,459 shares of the company’s stock valued at $81,000 after purchasing an additional 2,245 shares during the last quarter. Trium Capital LLP acquired a new position in shares of Shoals Technologies Group in the 3rd quarter valued at $93,000. Finally, iA Global Asset Management Inc. acquired a new position in shares of Shoals Technologies Group in the 3rd quarter valued at $102,000.

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.