Shoals Technologies Group (NASDAQ:SHLS) PT Lowered to $9.00 at UBS Group

Shoals Technologies Group (NASDAQ:SHLS) had its price target lowered by stock analysts at UBS Group from $12.00 to $9.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price target points to a potential upside of 65.14% from the company’s previous close.

SHLS has been the topic of a number of other reports. Roth Capital cut Shoals Technologies Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 7th. Cantor Fitzgerald reduced their price objective on Shoals Technologies Group from $24.00 to $14.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 8th. Northland Securities reaffirmed an “underperform” rating and set a $6.00 price objective (down from $12.00) on shares of Shoals Technologies Group in a research note on Wednesday, May 8th. Mizuho cut their target price on 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. Finally, Oppenheimer cut their target price on Shoals Technologies Group from $14.00 to $12.00 and set an “outperform” rating on the stock in a research note on Wednesday. Three analysts have rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Shoals Technologies Group has a consensus rating of “Hold” and a consensus price target of $12.29.

Shoals Technologies Group Price Performance

NASDAQ SHLS traded down $0.05 during trading hours on Wednesday, reaching $5.45. 9,415,037 shares of the stock traded hands, compared to its average volume of 4,839,434. The stock has a 50 day simple moving average of $6.63 and a two-hundred day simple moving average of $9.69. Shoals Technologies Group has a 1 year low of $5.27 and a 1 year high of $22.42. 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 $928.79 million, a price-to-earnings ratio of 30.00 and a beta of 1.76.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.05 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $94.44 million. On average, analysts predict that Shoals Technologies Group will post 0.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Shoals Technologies Group

Several large investors have recently made changes to their positions in SHLS. ANTIPODES PARTNERS Ltd raised its holdings in Shoals Technologies Group by 122.4% in the 1st quarter. ANTIPODES PARTNERS Ltd now owns 4,793 shares of the company’s stock worth $54,000 after acquiring an additional 2,638 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new position in Shoals Technologies Group in the 2nd quarter worth approximately $54,000. Versor Investments LP purchased a new position in Shoals Technologies Group in the 2nd quarter worth approximately $80,000. Pallas Capital Advisors LLC purchased a new position in Shoals Technologies Group in the 2nd quarter worth approximately $90,000. Finally, Headlands Technologies LLC purchased a new position in Shoals Technologies Group in the 1st quarter worth approximately $92,000.

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.