Shoals Technologies Group (NASDAQ:SHLS) Rating Reiterated by Truist Financial

Truist Financial reissued their buy rating on shares of Shoals Technologies Group (NASDAQ:SHLS) in a research note issued to investors on Wednesday, Benzinga reports. Truist Financial currently has a $10.00 price target on the stock, down from their previous price target of $12.00.

A number of other brokerages have also issued reports on SHLS. Northland Securities reissued an underperform rating and issued a $6.00 price target (down previously from $12.00) on shares of Shoals Technologies Group in a report on Wednesday, May 8th. Citigroup lowered shares of Shoals Technologies Group from a buy rating to a sell rating and cut their price target for the stock from $15.00 to $5.00 in a report on Tuesday, July 2nd. TD Cowen cut their price target on shares of Shoals Technologies Group from $15.00 to $11.00 and set a buy rating on the stock in a report on Wednesday, May 8th. Barclays cut their price target on shares of Shoals Technologies Group from $12.00 to $10.00 and set an equal weight rating on the stock in a report on Thursday, July 18th. Finally, Northland Capmk lowered shares of Shoals Technologies Group from a hold rating to a strong sell rating in a report on Wednesday, May 8th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $11.76.

Shoals Technologies Group Trading Down 3.2 %

Shares of SHLS stock traded down $0.17 on Wednesday, hitting $5.12. 9,247,242 shares of the company’s stock traded hands, compared to its average volume of 4,936,422. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.87 and a current ratio of 2.62. Shoals Technologies Group has a one year low of $4.88 and a one year high of $22.40. The company’s fifty day simple moving average is $6.45 and its 200 day simple moving average is $9.53. The stock has a market capitalization of $872.55 million, a price-to-earnings ratio of 28.45 and a beta of 1.76.

Shoals Technologies Group (NASDAQ:SHLS) last released its earnings results on Tuesday, August 6th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.08 by $0.02. Shoals Technologies Group had a net margin of 5.13% and a return on equity of 12.77%. The company had revenue of $99.25 million for the quarter, compared to analyst estimates of $90.57 million. During the same quarter last year, the firm earned $0.12 EPS. The firm’s quarterly revenue was down 16.7% compared to the same quarter last year. Equities analysts forecast that Shoals Technologies Group will post 0.44 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Capstone Investment Advisors LLC lifted its position in Shoals Technologies Group by 1.7% during the 4th quarter. Capstone Investment Advisors LLC now owns 75,000 shares of the company’s stock valued at $1,166,000 after acquiring an additional 1,237 shares during the period. PNC Financial Services Group Inc. lifted its position in Shoals Technologies Group by 14.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,633 shares of the company’s stock valued at $181,000 after acquiring an additional 1,429 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Shoals Technologies Group by 1.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 184,913 shares of the company’s stock valued at $2,068,000 after acquiring an additional 1,857 shares during the period. Principal Financial Group Inc. raised its holdings in Shoals Technologies Group by 10.6% in the fourth quarter. Principal Financial Group Inc. now owns 19,839 shares of the company’s stock worth $308,000 after buying an additional 1,898 shares during the last quarter. Finally, Commerce Bank lifted its stake in shares of Shoals Technologies Group by 12.8% in the fourth quarter. Commerce Bank now owns 18,038 shares of the company’s stock worth $280,000 after buying an additional 2,045 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.