Shoals Technologies Group (NASDAQ:SHLS) Given New $15.00 Price Target at Roth Mkm

Shoals Technologies Group (NASDAQ:SHLS) had its price objective cut by research analysts at Roth Mkm from $20.00 to $15.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Roth Mkm’s price target suggests a potential upside of 69.68% from the company’s previous close.

Several other research firms also recently weighed in on SHLS. Royal Bank of Canada dropped their price target 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 dropped their target price on shares of Shoals Technologies Group from $42.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Piper Sandler reduced their target price on shares of Shoals Technologies Group from $16.00 to $14.00 and set an “overweight” rating for the company in a research note on Thursday, April 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $24.00 price objective on shares of Shoals Technologies Group in a research note on Wednesday, March 13th. Finally, UBS Group decreased their price objective on Shoals Technologies Group from $28.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.61.

Shoals Technologies Group Stock Performance

Shares of SHLS traded down $0.01 during mid-day trading on Tuesday, hitting $8.84. 1,840,783 shares of the company traded hands, compared to its average volume of 3,797,472. The stock has a 50-day moving average price of $10.92 and a two-hundred day moving average price of $13.38. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.88 and a current ratio of 2.45. Shoals Technologies Group has a 1 year low of $8.06 and a 1 year high of $28.34. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 35.08 and a beta of 1.86.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.04). The business had revenue of $130.44 million during 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%. Equities analysts anticipate that Shoals Technologies Group will post 0.5 earnings per share for the current year.

Institutional Investors Weigh In On Shoals Technologies Group

Institutional investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Shoals Technologies Group by 47.2% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 24,479 shares of the company’s stock valued at $447,000 after acquiring an additional 7,854 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Shoals Technologies Group by 64.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 93,235 shares of the company’s stock valued at $1,702,000 after purchasing an additional 36,567 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Shoals Technologies Group by 0.8% in the third quarter. Bank of New York Mellon Corp now owns 607,444 shares of the company’s stock valued at $11,086,000 after buying an additional 5,059 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Shoals Technologies Group by 56.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,697 shares of the company’s stock worth $688,000 after acquiring an additional 13,608 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Shoals Technologies Group by 20.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 226,713 shares of the company’s stock valued at $4,138,000 after buying an additional 38,879 shares in the last quarter.

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.