Shoals Technologies Group (NASDAQ:SHLS – Get Free Report) had its price target cut by investment analysts at Truist Financial from $8.00 to $7.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 53.85% from the stock’s previous close.
Several other equities analysts also recently commented on SHLS. JPMorgan Chase & Co. decreased their price objective on shares of Shoals Technologies Group from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Barclays reduced their target price on shares of Shoals Technologies Group from $7.00 to $5.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 13th. Citigroup raised shares of Shoals Technologies Group from a “sell” rating to a “neutral” rating and boosted their target price for the company from $5.00 to $5.50 in a research report on Thursday, October 3rd. Bank of America assumed coverage on shares of Shoals Technologies Group in a research report on Monday, November 25th. They issued a “buy” rating and a $6.00 target price for the company. Finally, Piper Sandler reduced their target price on shares of Shoals Technologies Group from $10.00 to $8.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Shoals Technologies Group currently has an average rating of “Hold” and an average target price of $10.60.
Read Our Latest Report on Shoals Technologies Group
Shoals Technologies Group Stock Up 0.2 %
Shoals Technologies Group (NASDAQ:SHLS – Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.02). Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The company had revenue of $102.20 million during the quarter, compared to analyst estimates of $98.86 million. During the same quarter in the prior year, the firm earned $0.16 earnings per share. Shoals Technologies Group’s revenue for the quarter was down 23.8% on a year-over-year basis. Equities analysts expect that Shoals Technologies Group will post 0.29 EPS for the current year.
Insider Transactions at Shoals Technologies Group
In other Shoals Technologies Group news, CEO Brandon Moss purchased 22,300 shares of Shoals Technologies Group stock in a transaction that occurred on Thursday, November 21st. The stock was acquired at an average price of $4.55 per share, with a total value of $101,465.00. Following the transaction, the chief executive officer now owns 593,700 shares in the company, valued at $2,701,335. This trade represents a 3.90 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 6,460 shares of company stock valued at $30,271 in the last quarter. 0.36% of the stock is currently owned by company insiders.
Institutional Trading of Shoals Technologies Group
Hedge funds have recently bought and sold shares of the business. FMR LLC grew its position in Shoals Technologies Group by 48.9% in the 3rd quarter. FMR LLC now owns 5,806 shares of the company’s stock valued at $33,000 after purchasing an additional 1,906 shares during the period. Empirical Asset Management LLC purchased a new position in Shoals Technologies Group during the 4th quarter worth $59,000. TrinityPoint Wealth LLC purchased a new position in Shoals Technologies Group during the 3rd quarter worth $60,000. Mackenzie Financial Corp purchased a new position in Shoals Technologies Group during the 2nd quarter worth $64,000. Finally, American Trust purchased a new position in Shoals Technologies Group during the 2nd quarter worth $68,000.
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.
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