Shoals Technologies Group (NASDAQ:SHLS – Free Report) had its price objective reduced by Mizuho from $18.00 to $16.00 in a research report released on Friday morning, Benzinga reports. Mizuho currently has a buy rating on the stock.
Several other equities analysts have also weighed in on the company. The Goldman Sachs Group cut their price target on Shoals Technologies Group from $26.00 to $23.00 and set a buy rating for the company in a research note on Friday, March 1st. JPMorgan Chase & Co. cut their price target on Shoals Technologies Group from $32.00 to $26.00 and set an overweight rating for the company in a research note on Thursday, February 29th. Piper Sandler cut their price target on Shoals Technologies Group from $16.00 to $14.00 and set an overweight rating for the company in a research note on Thursday, April 11th. Royal Bank of Canada cut their price target on Shoals Technologies Group from $20.00 to $17.00 and set an outperform rating for the company in a research note on Thursday, February 29th. Finally, UBS Group cut their price target on Shoals Technologies Group from $28.00 to $20.00 and set a buy rating for the company in a research note on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $20.94.
Get Our Latest Analysis on Shoals Technologies Group
Shoals Technologies Group Stock Performance
Shoals Technologies Group (NASDAQ:SHLS – Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.04). The company had revenue of $130.44 million for the quarter, compared to analysts’ expectations of $131.89 million. Shoals Technologies Group had a net margin of 8.18% and a return on equity of 16.02%. On average, equities analysts forecast that Shoals Technologies Group will post 0.51 earnings per share for the current year.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in SHLS. IFP Advisors Inc lifted its stake in Shoals Technologies Group by 73.5% during the second quarter. IFP Advisors Inc now owns 1,223 shares of the company’s stock worth $31,000 after purchasing an additional 518 shares in the last quarter. Assetmark Inc. lifted its stake in Shoals Technologies Group by 92.7% during the third quarter. Assetmark Inc. now owns 1,590 shares of the company’s stock worth $29,000 after purchasing an additional 765 shares in the last quarter. Toroso Investments LLC acquired a new position in Shoals Technologies Group during the third quarter worth $44,000. MetLife Investment Management LLC acquired a new position in shares of Shoals Technologies Group in the 1st quarter valued at $36,000. Finally, ANTIPODES PARTNERS Ltd acquired a new position in shares of Shoals Technologies Group in the 4th quarter valued at $33,000.
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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