Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) has earned a consensus recommendation of "Hold" from the twenty-three brokerages that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $8.63.
A number of research firms recently weighed in on SHLS. Citigroup increased their price target on Shoals Technologies Group from $4.50 to $5.50 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Mizuho raised their price objective on Shoals Technologies Group from $6.00 to $7.00 and gave the company an "outperform" rating in a research note on Monday, June 2nd. BNP Paribas Exane downgraded Shoals Technologies Group from a "neutral" rating to an "underperform" rating and set a $4.00 price objective for the company. in a research report on Thursday, May 15th. BNP Paribas reiterated an "underperform" rating and issued a $4.00 target price (down from $4.50) on shares of Shoals Technologies Group in a report on Thursday, May 15th. Finally, Jefferies Financial Group raised Shoals Technologies Group from a "hold" rating to a "buy" rating and raised their price objective for the company from $4.90 to $7.20 in a research note on Monday.
Check Out Our Latest Stock Analysis on SHLS
Institutional Investors Weigh In On Shoals Technologies Group
A number of hedge funds have recently made changes to their positions in the company. MQS Management LLC purchased a new stake in shares of Shoals Technologies Group in the first quarter worth approximately $43,000. Cerity Partners LLC purchased a new stake in shares of Shoals Technologies Group in the first quarter worth approximately $43,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Shoals Technologies Group in the first quarter worth approximately $44,000. Virtu Financial LLC purchased a new stake in shares of Shoals Technologies Group in the first quarter worth approximately $46,000. Finally, FORA Capital LLC bought a new position in Shoals Technologies Group in the first quarter worth approximately $51,000.
Shoals Technologies Group Stock Performance
SHLS stock opened at $5.78 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.34 and a quick ratio of 1.58. The company has a 50 day moving average price of $5.01 and a 200 day moving average price of $4.40. Shoals Technologies Group has a fifty-two week low of $2.71 and a fifty-two week high of $7.08. The stock has a market capitalization of $966.30 million, a PE ratio of 48.17, a price-to-earnings-growth ratio of 0.78 and a beta of 1.59.
Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.02). The business had revenue of $80.36 million for the quarter, compared to analyst estimates of $74.66 million. Shoals Technologies Group had a return on equity of 7.63% and a net margin of 4.90%. Shoals Technologies Group's revenue was down 11.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.07 EPS. Analysts forecast that Shoals Technologies Group will post 0.29 EPS for the current year.
About Shoals Technologies Group
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Get Free ReportShoals 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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