Shoals Technologies Group, Inc. (NASDAQ:SHLS – Get Free Report) hit a new 52-week low during trading on Tuesday . The stock traded as low as $11.37 and last traded at $11.37, with a volume of 1938015 shares traded. The stock had previously closed at $11.79.
Analysts Set New Price Targets
SHLS has been the subject of several research reports. The Goldman Sachs Group decreased their price objective on shares of Shoals Technologies Group from $26.00 to $23.00 and set a “buy” rating for the company in a report on Friday, March 1st. Janney Montgomery Scott began coverage on shares of Shoals Technologies Group in a report on Friday, January 19th. They issued a “buy” rating and a $20.00 price objective for the company. Royal Bank of Canada decreased their price target on shares of Shoals Technologies Group from $20.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, February 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $24.00 price target on shares of Shoals Technologies Group in a research note on Wednesday, March 13th. Finally, Oppenheimer decreased their price target on shares of Shoals Technologies Group from $42.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, February 29th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $21.18.
Read Our Latest Analysis on SHLS
Shoals Technologies Group Price Performance
Shoals Technologies Group (NASDAQ:SHLS – Get Free Report) last announced 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). Shoals Technologies Group had a return on equity of 16.02% and a net margin of 8.18%. The company had revenue of $130.44 million during the quarter, compared to the consensus estimate of $131.89 million. Sell-side analysts forecast that Shoals Technologies Group, Inc. will post 0.5 EPS for the current year.
Institutional Trading of Shoals Technologies Group
Several large investors have recently added to or reduced their stakes in SHLS. IFP Advisors Inc lifted its holdings in Shoals Technologies Group by 73.5% during the second quarter. IFP Advisors Inc now owns 1,223 shares of the company’s stock valued at $31,000 after purchasing an additional 518 shares in the last quarter. Assetmark Inc. lifted its holdings in Shoals Technologies Group by 92.7% during the third quarter. Assetmark Inc. now owns 1,590 shares of the company’s stock valued at $29,000 after purchasing an additional 765 shares in the last quarter. Toroso Investments LLC purchased a new position in Shoals Technologies Group during the third quarter valued at approximately $44,000. MetLife Investment Management LLC purchased a new position in Shoals Technologies Group during the first quarter valued at approximately $36,000. Finally, ANTIPODES PARTNERS Ltd purchased a new position in Shoals Technologies Group during the fourth quarter valued at approximately $33,000.
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.
Recommended Stories
- Five stocks we like better than Shoals Technologies Group
- What Are the U.K. Market Holidays? How to Invest and Trade
- 3 Value Stocks Too Small For Buffett’s Portfolio
- Canada Bond Market Holiday: How to Invest and Trade
- Foot Locker Builds Up Another Head of Steam; Gains Imminent
- 3 Tickers Leading a Meme Stock Revival
- Disney Stock Catches 3 Upgrades In a Single Week
Receive News & Ratings for Shoals Technologies Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shoals Technologies Group and related companies with MarketBeat.com's FREE daily email newsletter.