Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report)'s share price was up 4.7% during mid-day trading on Monday . The stock traded as high as $6.51 and last traded at $6.42. Approximately 2,047,874 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 5,027,813 shares. The stock had previously closed at $6.13.
A number of brokerages have recently issued reports on SHLS. Oppenheimer dropped their price objective on shares of Shoals Technologies Group from $14.00 to $12.00 and set an "outperform" rating for the company in a research note on Wednesday, August 7th. Royal Bank of Canada restated an "outperform" rating and set a $11.00 price target on shares of Shoals Technologies Group in a research note on Friday, September 6th. UBS Group lowered their price objective on Shoals Technologies Group from $12.00 to $9.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. Barclays cut their target price on Shoals Technologies Group from $10.00 to $7.00 and set an "equal weight" rating for the company in a research report on Thursday, August 8th. Finally, BNP Paribas cut Shoals Technologies Group from an "outperform" rating to a "neutral" rating and lowered their price target for the company from $15.00 to $7.00 in a research report on Wednesday, August 7th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Shoals Technologies Group currently has an average rating of "Hold" and an average target price of $11.06.
View Our Latest Stock Report on SHLS
The business has a 50 day moving average of $5.93 and a 200 day moving average of $7.61. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 35.83, a PEG ratio of 0.91 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 results on Tuesday, August 6th. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.02. The company had revenue of $99.25 million for the quarter, compared to analysts' expectations of $90.57 million. Shoals Technologies Group had a net margin of 5.13% and a return on equity of 12.75%. The business's quarterly revenue was down 16.7% compared to the same quarter last year. During the same period last year, the firm posted $0.12 earnings per share. As a group, research analysts predict that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of SHLS. ANTIPODES PARTNERS Ltd raised its position in Shoals Technologies Group by 122.4% in the 1st quarter. ANTIPODES PARTNERS Ltd now owns 4,793 shares of the company's stock valued at $54,000 after buying an additional 2,638 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of Shoals Technologies Group in the second quarter worth $54,000. Mackenzie Financial Corp bought a new stake in shares of Shoals Technologies Group in the second quarter worth $64,000. American Trust acquired a new position in Shoals Technologies Group during the second quarter worth $68,000. Finally, Versor Investments LP bought a new position in Shoals Technologies Group in the second quarter valued at $80,000.
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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