Shoals Technologies Group (NASDAQ:SHLS) Earns Peer Perform Rating from Analysts at Wolfe Research

Wolfe Research assumed coverage on shares of Shoals Technologies Group (NASDAQ:SHLS) in a research note issued to investors on Tuesday morning, Marketbeat reports. The brokerage issued a peer perform rating on the stock.

Several other equities research analysts have also recently commented on SHLS. Piper Sandler dropped their price objective on Shoals Technologies Group from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Barclays dropped their price objective on Shoals Technologies Group from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. The Goldman Sachs Group dropped their price objective on Shoals Technologies Group from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Oppenheimer reduced their price objective on Shoals Technologies Group from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Tuesday, January 28th. Finally, Bank of America assumed coverage on Shoals Technologies Group in a research report on Monday, November 25th. They issued a “buy” rating and a $6.00 target price on the stock. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $9.48.

Shoals Technologies Group Trading Up 6.0 %

Shoals Technologies Group stock opened at $4.59 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.08 and a quick ratio of 1.36. Shoals Technologies Group has a one year low of $3.83 and a one year high of $16.19. The stock has a market capitalization of $765.15 million, a PE ratio of 22.95, a price-to-earnings-growth ratio of 0.47 and a beta of 1.62. The business’s fifty day moving average is $4.91 and its 200 day moving average is $5.19.

Hedge Funds Weigh In On Shoals Technologies Group

Several large investors have recently made changes to their positions in SHLS. Point72 Asset Management L.P. lifted its position in shares of Shoals Technologies Group by 460.1% in the third quarter. Point72 Asset Management L.P. now owns 6,844,222 shares of the company’s stock valued at $38,396,000 after acquiring an additional 5,622,207 shares in the last quarter. Erste Asset Management GmbH purchased a new position in shares of Shoals Technologies Group in the third quarter valued at about $20,191,000. Norges Bank purchased a new position in shares of Shoals Technologies Group in the fourth quarter valued at about $12,472,000. Verition Fund Management LLC lifted its position in shares of Shoals Technologies Group by 938.3% in the third quarter. Verition Fund Management LLC now owns 2,251,093 shares of the company’s stock valued at $12,629,000 after acquiring an additional 2,034,291 shares in the last quarter. Finally, Impax Asset Management Group plc lifted its position in shares of Shoals Technologies Group by 126.3% in the fourth quarter. Impax Asset Management Group plc now owns 3,469,360 shares of the company’s stock valued at $19,083,000 after acquiring an additional 1,935,983 shares in the last quarter.

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.