Shoals Technologies Group (NASDAQ:SHLS – Free Report) had its target price lowered by Northland Securities from $6.00 to $4.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has an underperform rating on the stock.
A number of other research analysts have also issued reports on SHLS. TD Cowen dropped their price objective on shares of Shoals Technologies Group from $15.00 to $11.00 and set a buy rating for the company in a report on Wednesday, May 8th. Roth Mkm lowered shares of Shoals Technologies Group from a buy rating to a neutral rating and dropped their price objective for the company from $15.00 to $8.00 in a report on Wednesday, May 8th. Piper Sandler dropped their price objective on shares of Shoals Technologies Group from $11.00 to $8.00 and set an overweight rating for the company in a report on Wednesday. JPMorgan Chase & Co. dropped their price objective on shares of Shoals Technologies Group from $23.00 to $19.00 and set an overweight rating for the company in a report on Wednesday. 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 analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Shoals Technologies Group has a consensus rating of Hold and an average price target of $11.76.
Read Our Latest Analysis on SHLS
Shoals Technologies Group Price Performance
Shoals Technologies Group (NASDAQ:SHLS – Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The firm had revenue of $99.25 million during 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 12.77%. The business’s revenue for the quarter was down 16.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.12 earnings per share. Equities research analysts forecast that Shoals Technologies Group will post 0.44 EPS for the current fiscal year.
Institutional Trading of Shoals Technologies Group
Several large investors have recently modified their holdings of the stock. ANTIPODES PARTNERS Ltd grew 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 purchasing an additional 2,638 shares during the period. Headlands Technologies LLC acquired a new stake in Shoals Technologies Group in the 1st quarter valued at $92,000. 1620 Investment Advisors Inc. acquired a new stake in Shoals Technologies Group in the 2nd quarter valued at $54,000. Paloma Partners Management Co acquired a new stake in Shoals Technologies Group in the 1st quarter valued at $115,000. Finally, Olympiad Research LP acquired a new stake in Shoals Technologies Group in the 4th quarter valued at $167,000.
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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