Shoals Technologies Group, Inc. (NASDAQ:SHLS) Receives $32.03 Consensus PT from Analysts

Shoals Technologies Group, Inc. (NASDAQ:SHLS – Get Rating) has received a consensus recommendation of “Hold” from the eighteen ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $31.83.

Several equities research analysts have weighed in on SHLS shares. Barclays cut their price target on Shoals Technologies Group from $30.00 to $27.00 in a report on Friday. Morgan Stanley cut their price target on Shoals Technologies Group from $36.00 to $32.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 10th. Truist Financial upped their price target on Shoals Technologies Group from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, February 27th. Credit Suisse Group restated an “outperform” rating and set a $29.00 price target on shares of Shoals Technologies Group in a report on Monday, March 6th. Finally, Cowen cut their price target on Shoals Technologies Group from $37.50 to $35.00 and set an “outperform” rating on the stock in a report on Friday, January 20th.

Shoals Technologies Group Price Performance

SHLS opened at $20.11 on Tuesday. The stock’s 50-day moving average price is $25.48 and its 200 day moving average price is $24.63. The company has a current ratio of 2.92, a quick ratio of 1.53 and a debt-to-equity ratio of 0.79. Shoals Technologies Group has a 12-month low of $9.58 and a 12-month high of $32.43. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 24.23 and a beta of 2.17.

Insider Buying and Selling

In related news, President Jeffery Tolnar sold 3,575 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $19.73, for a total transaction of $70,534.75. Following the transaction, the president now owns 66,044 shares in the company, valued at approximately $1,303,048.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, President Jeffery Tolnar sold 3,575 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $19.73, for a total transaction of $70,534.75. Following the transaction, the president now owns 66,044 shares in the company, valued at approximately $1,303,048.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Mehgan Peetz sold 3,954 shares of the stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $21.09, for a total value of $83,389.86. Following the sale, the general counsel now directly owns 90,654 shares of the company’s stock, valued at $1,911,892.86. The disclosure for this sale can be found here. Insiders have sold 24,747,894 shares of company stock worth $599,705,195 in the last quarter. 1.67% of the stock is owned by insiders.

Institutional Trading of Shoals Technologies Group

A number of hedge funds have recently added to or reduced their stakes in SHLS. TFC Financial Management Inc. lifted its position in Shoals Technologies Group by 511.6% during the 4th quarter. TFC Financial Management Inc. now owns 1,315 shares of the company’s stock worth $32,000 after acquiring an additional 1,100 shares during the period. MetLife Investment Management LLC acquired a new stake in shares of Shoals Technologies Group in the 1st quarter valued at approximately $36,000. Toroso Investments LLC acquired a new stake in shares of Shoals Technologies Group in the 3rd quarter valued at approximately $44,000. Captrust Financial Advisors lifted its holdings in shares of Shoals Technologies Group by 89.8% in the 1st quarter. Captrust Financial Advisors now owns 3,162 shares of the company’s stock valued at $54,000 after buying an additional 1,496 shares during the period. Finally, Strs Ohio acquired a new stake in shares of Shoals Technologies Group in the 3rd quarter valued at approximately $73,000. 81.94% of the stock is owned by institutional investors and hedge funds.

About Shoals Technologies Group

(Get Rating)

Shoals Technologies Group, Inc provides electrical balance of system (EBOS) solutions for solar energy projects in the United States. It produces EBOS components, including cable assemblies, inline fuses, combiners, disconnects, recombiners, wireless monitoring systems, junction boxes, transition enclosures, splice boxes, wire management solutions, and IV curve benchmarking devices.