Analysts Set Shoals Technologies Group, Inc. (NASDAQ:SHLS) Price Target at $11.08

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLSGet Free Report) have been given an average recommendation of “Hold” by the twenty ratings firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $11.08.

A number of equities analysts recently commented on SHLS shares. UBS Group decreased their target price on Shoals Technologies Group from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Roth Capital downgraded Shoals Technologies Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 7th. Oppenheimer cut their price objective on Shoals Technologies Group from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Roth Mkm dropped their price target 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. Finally, Jefferies Financial Group began coverage on shares of Shoals Technologies Group in a research report on Wednesday, September 4th. They set a “hold” rating and a $5.00 price objective on the stock.

View Our Latest Stock Analysis on SHLS

Shoals Technologies Group Trading Up 3.1 %

Shoals Technologies Group stock opened at $5.31 on Wednesday. Shoals Technologies Group has a 52-week low of $4.85 and a 52-week high of $17.79. The company has a market cap of $884.91 million, a P/E ratio of 37.93, a P/E/G ratio of 0.76 and a beta of 1.74. The company has a quick ratio of 1.50, a current ratio of 2.26 and a debt-to-equity ratio of 0.27. The business has a 50-day simple moving average of $5.59 and a two-hundred day simple moving average of $6.97.

Shoals Technologies Group (NASDAQ:SHLSGet Free Report) last announced its earnings results on Tuesday, August 6th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02. Shoals Technologies Group had a net margin of 5.13% and a return on equity of 12.75%. The company had revenue of $99.25 million during the quarter, compared to analyst estimates of $90.57 million. During the same period in the previous year, the business posted $0.12 earnings per share. The firm’s quarterly revenue was down 16.7% compared to the same quarter last year. Analysts predict that Shoals Technologies Group will post 0.29 EPS for the current year.

Hedge Funds Weigh In On Shoals Technologies Group

Several institutional investors have recently added to or reduced their stakes in the company. ANTIPODES PARTNERS Ltd boosted its position in shares of Shoals Technologies Group by 122.4% during the 1st quarter. ANTIPODES PARTNERS Ltd now owns 4,793 shares of the company’s stock valued at $54,000 after acquiring an additional 2,638 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in Shoals Technologies Group during the second quarter valued at $54,000. Mackenzie Financial Corp bought a new position in Shoals Technologies Group during the second quarter valued at $64,000. American Trust purchased a new position in shares of Shoals Technologies Group in the 2nd quarter worth $68,000. Finally, Versor Investments LP bought a new stake in shares of Shoals Technologies Group in the 2nd quarter worth about $80,000.

Shoals Technologies Group Company Profile

(Get Free Report

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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Analyst Recommendations for Shoals Technologies Group (NASDAQ:SHLS)

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