Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS – Get Free Report) hit a new 52-week low on Friday after Morgan Stanley lowered their price target on the stock from $8.00 to $7.00. Morgan Stanley currently has an equal weight rating on the stock. Shoals Technologies Group traded as low as $4.57 and last traded at $4.59, with a volume of 4123836 shares trading hands. The stock had previously closed at $5.22.
Other equities analysts have also recently issued reports about the company. Barclays reduced their price target on Shoals Technologies Group from $7.00 to $5.00 and set an “equal weight” rating for the company in a research report on Wednesday. UBS Group reduced their price target on shares of Shoals Technologies Group from $12.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Wells Fargo & Company started coverage on Shoals Technologies Group in a report on Monday, October 14th. They issued an “equal weight” rating and a $46.00 price target on the stock. Truist Financial decreased their price objective on shares of Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Finally, Roth Mkm dropped their target price on shares of Shoals Technologies Group from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $11.92.
Read Our Latest Report on SHLS
Institutional Trading of Shoals Technologies Group
Shoals Technologies Group Stock Performance
The company has a quick ratio of 1.50, a current ratio of 2.08 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average of $5.56 and a 200 day moving average of $6.24. The stock has a market capitalization of $764.91 million, a P/E ratio of 24.00, a PEG ratio of 0.73 and a beta of 1.73.
Shoals Technologies Group (NASDAQ:SHLS – Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 earnings per share 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 business had revenue of $102.20 million for the quarter, compared to the consensus estimate of $98.86 million. During the same quarter last year, the firm earned $0.16 EPS. The company’s revenue for the quarter was down 23.8% on a year-over-year basis. Research analysts anticipate that Shoals Technologies Group, Inc. will post 0.28 EPS for the current fiscal year.
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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