Shoals Technologies Group (NASDAQ:SHLS) Price Target Raised to $9.00

Key Points

• Jefferies Financial Group has raised its price target for Shoals Technologies Group (NASDAQ:SHLS) from $6.00 to $9.00, indicating a potential upside of 25.70% from its previous close.
• The company recently reported an EPS of $0.10 for the quarter, exceeding estimates, and showed a year-over-year revenue growth of 11.7%.
• Shoals Technologies Group has a consensus rating of "Moderate Buy" from 14 investment analysts, with a consensus price target of $9.24.

Shoals Technologies Group (NASDAQ:SHLS - Free Report) had its price objective raised by Jefferies Financial Group from $6.00 to $9.00 in a research note released on Monday morning, Marketbeat reports. They currently have a buy rating on the stock.

A number of other research analysts have also recently weighed in on the stock. Roth Capital raised shares of Shoals Technologies Group from a "neutral" rating to a "buy" rating and set a $10.00 price target on the stock in a research report on Thursday, August 7th. UBS Group reduced their price target on shares of Shoals Technologies Group from $7.50 to $7.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Wall Street Zen cut shares of Shoals Technologies Group from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 17th. BNP Paribas Exane cut shares of Shoals Technologies Group from a "neutral" rating to an "underperform" rating and set a $4.00 price target on the stock. in a research report on Thursday, May 15th. Finally, Mizuho cut shares of Shoals Technologies Group from an "outperform" rating to a "neutral" rating and set a $7.00 price target on the stock. in a research report on Monday, July 14th. Fourteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Shoals Technologies Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $9.33.

Shoals Technologies Group Trading Down 0.6%

Shares of SHLS traded down $0.04 during mid-day trading on Monday, hitting $6.88. The company had a trading volume of 3,491,812 shares, compared to its average volume of 5,517,151. The business's 50-day simple moving average is $5.89 and its 200-day simple moving average is $4.72. The company has a quick ratio of 1.64, a current ratio of 2.34 and a debt-to-equity ratio of 0.23. Shoals Technologies Group has a 1-year low of $2.71 and a 1-year high of $7.62. The stock has a market cap of $1.15 billion, a PE ratio of 52.93, a P/E/G ratio of 0.85 and a beta of 1.63.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.02. Shoals Technologies Group had a net margin of 5.27% and a return on equity of 7.57%. The business had revenue of $110.84 million for the quarter, compared to analysts' expectations of $104.87 million. During the same period last year, the company earned $0.10 earnings per share. The company's quarterly revenue was up 11.7% on a year-over-year basis. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side analysts forecast that Shoals Technologies Group will post 0.29 earnings per share for the current year.

Institutional Trading of Shoals Technologies Group

Institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC raised its holdings in Shoals Technologies Group by 449.1% in the second quarter. Nisa Investment Advisors LLC now owns 7,226 shares of the company's stock valued at $31,000 after acquiring an additional 5,910 shares in the last quarter. MQS Management LLC acquired a new stake in Shoals Technologies Group in the first quarter valued at $43,000. Cerity Partners LLC acquired a new stake in Shoals Technologies Group in the first quarter valued at $43,000. Caitong International Asset Management Co. Ltd acquired a new stake in Shoals Technologies Group in the first quarter valued at $44,000. Finally, Virtu Financial LLC acquired a new stake in Shoals Technologies Group in the first quarter valued at $46,000.

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.