Shoals Technologies Group, Inc. (NASDAQ:SHLS) Receives $8.63 Consensus Price Target from Analysts

Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) has earned an average rating of "Hold" from the twenty-three research firms that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $8.63.

Several equities analysts have issued reports on the company. BNP Paribas Exane lowered Shoals Technologies Group from a "neutral" rating to an "underperform" rating and set a $4.00 price objective on the stock. in a report on Thursday, May 15th. Mizuho reaffirmed a "neutral" rating and set a $7.00 price objective on shares of Shoals Technologies Group in a report on Monday. The Goldman Sachs Group raised their price objective on Shoals Technologies Group from $5.00 to $6.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Jefferies Financial Group raised Shoals Technologies Group from a "hold" rating to a "buy" rating and raised their price objective for the stock from $4.90 to $7.20 in a report on Monday, July 7th. Finally, Citigroup increased their target price on shares of Shoals Technologies Group from $4.50 to $5.50 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th.

Institutional Investors Weigh In On Shoals Technologies Group

A number of hedge funds have recently added to or reduced their stakes in SHLS. MQS Management LLC acquired a new stake in Shoals Technologies Group in the first quarter valued at about $43,000. Cerity Partners LLC purchased a new position in Shoals Technologies Group in the first quarter valued at about $43,000. Caitong International Asset Management Co. Ltd purchased a new position in Shoals Technologies Group in the first quarter valued at about $44,000. Virtu Financial LLC purchased a new position in Shoals Technologies Group in the first quarter valued at about $46,000. Finally, FORA Capital LLC purchased a new position in Shoals Technologies Group in the first quarter valued at about $51,000.

Shoals Technologies Group Stock Down 1.7%

Shares of SHLS stock traded down $0.10 on Friday, reaching $5.75. 5,321,411 shares of the stock were exchanged, compared to its average volume of 5,938,557. The company has a current ratio of 2.34, a quick ratio of 1.58 and a debt-to-equity ratio of 0.25. The business's 50 day moving average price is $5.09 and its 200 day moving average price is $4.39. The company has a market capitalization of $961.29 million, a price-to-earnings ratio of 47.92, a PEG ratio of 0.79 and a beta of 1.59. Shoals Technologies Group has a twelve month low of $2.71 and a twelve month high of $7.08.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). The firm had revenue of $80.36 million for the quarter, compared to analysts' expectations of $74.66 million. Shoals Technologies Group had a return on equity of 7.63% and a net margin of 4.90%. The business's revenue for the quarter was down 11.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.07 EPS. As a group, sell-side analysts expect that Shoals Technologies Group will post 0.29 earnings per share for the current fiscal year.

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.