Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $5.25, but opened at $5.07. Shoals Technologies Group shares last traded at $5.05, with a volume of 321,810 shares traded.
A number of equities research analysts have commented on SHLS shares. Roth Capital downgraded Shoals Technologies Group from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 7th. Northland Securities reduced their price objective on shares of Shoals Technologies Group from $6.00 to $4.00 and set an "underperform" rating on the stock in a report on Thursday, August 8th. Truist Financial decreased their target price on shares of Shoals Technologies Group from $10.00 to $8.00 and set a "buy" rating on the stock in a research report on Friday, September 6th. Royal Bank of Canada reiterated an "outperform" rating and set a $11.00 price target on shares of Shoals Technologies Group in a research report on Friday, September 6th. Finally, Barclays reduced their price target on shares of Shoals Technologies Group from $10.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $11.08.
Read Our Latest Analysis on SHLS
The stock's 50 day moving average is $5.63 and its two-hundred day moving average is $7.03. The stock has a market capitalization of $841.58 million, a PE ratio of 29.17, a price-to-earnings-growth ratio of 0.74 and a beta of 1.74. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.26 and a quick ratio of 1.50.
Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.02. The company had revenue of $99.25 million for the quarter, compared to the consensus estimate of $90.57 million. Shoals Technologies Group had a net margin of 5.13% and a return on equity of 12.75%. The company's quarterly revenue was down 16.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.12 EPS. As a group, sell-side analysts forecast that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Shoals Technologies Group by 59.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 351,424 shares of the company's stock valued at $3,929,000 after acquiring an additional 130,434 shares during the last quarter. M&G Plc acquired a new stake in Shoals Technologies Group during the second quarter worth approximately $7,021,000. Goldman Sachs Group Inc. lifted its position in shares of Shoals Technologies Group by 16.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,215,815 shares of the company's stock worth $34,434,000 after buying an additional 309,261 shares during the last quarter. Electron Capital Partners LLC lifted its position in shares of Shoals Technologies Group by 102.9% during the 4th quarter. Electron Capital Partners LLC now owns 2,148,680 shares of the company's stock worth $33,390,000 after buying an additional 1,089,848 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in shares of Shoals Technologies Group by 104.1% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 135,629 shares of the company's stock valued at $846,000 after buying an additional 69,193 shares in the last quarter.
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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