Shoals Technologies Group (NASDAQ:SHLS – Get Free Report) had its price objective lowered by stock analysts at Barclays from $10.00 to $7.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential upside of 36.72% from the company’s previous close.
SHLS has been the subject of several other reports. Truist Financial reiterated a “buy” rating and set a $10.00 price objective (down from $12.00) on shares of Shoals Technologies Group in a research note on Wednesday. Citigroup lowered Shoals Technologies Group from a “buy” rating to a “sell” rating and cut their price objective for the stock from $15.00 to $5.00 in a research note on Tuesday, July 2nd. Piper Sandler lowered their target price on Shoals Technologies Group from $11.00 to $8.00 and set an “overweight” rating on the stock in a report on Wednesday. Mizuho lowered their target price on Shoals Technologies Group from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Finally, Roth Mkm cut Shoals Technologies Group from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $15.00 to $8.00 in a report on Wednesday, May 8th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $11.76.
Read Our Latest Report on Shoals Technologies Group
Shoals Technologies Group Stock Performance
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, beating the consensus estimate of $0.08 by $0.02. Shoals Technologies Group had a return on equity of 12.77% and a net margin of 5.13%. The firm had revenue of $99.25 million during the quarter, compared to analyst estimates of $90.57 million. During the same quarter in the previous year, the business earned $0.12 EPS. Shoals Technologies Group’s revenue for the quarter was down 16.7% compared to the same quarter last year. On average, equities research analysts forecast that Shoals Technologies Group will post 0.44 EPS for the current fiscal year.
Institutional Trading of Shoals Technologies Group
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ANTIPODES PARTNERS Ltd raised its position in Shoals Technologies Group by 122.4% in the first quarter. ANTIPODES PARTNERS Ltd now owns 4,793 shares of the company’s stock valued at $54,000 after purchasing an additional 2,638 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in shares of Shoals Technologies Group during the second quarter worth $54,000. Versor Investments LP purchased a new stake in shares of Shoals Technologies Group during the second quarter worth $80,000. Pallas Capital Advisors LLC purchased a new stake in shares of Shoals Technologies Group during the second quarter worth $90,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Shoals Technologies Group during the first quarter worth $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.
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