Shoals Technologies Group, Inc. (NASDAQ:SHLS) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Shoals Technologies Group, Inc. has received a consensus recommendation of "Hold" from analysts, with 4 sell ratings, 6 holds, and 13 buy ratings among 23 research firms.
• The average one-year price target for the company's stock is $8.77, reflecting varied expectations from different brokerages.
• Despite reporting a net margin of 4.90% and missing earnings per share consensus estimates for the last quarter, the company generated revenue of $80.36 million, surpassing analyst projections.

Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) has earned a consensus recommendation of "Hold" from the twenty-three research firms that are covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $8.7714.

A number of research firms have weighed in on SHLS. Guggenheim upped their price target on Shoals Technologies Group from $5.00 to $6.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Barclays boosted their price objective on Shoals Technologies Group from $4.00 to $7.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. The Goldman Sachs Group boosted their price target on Shoals Technologies Group from $5.00 to $6.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Citigroup boosted their target price on Shoals Technologies Group from $4.50 to $5.50 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Finally, BNP Paribas Exane cut Shoals Technologies Group from a "neutral" rating to an "underperform" rating and set a $4.00 price objective for the company. in a research note on Thursday, May 15th.

Institutional Investors Weigh In On Shoals Technologies Group

A number of institutional investors and hedge funds have recently made changes to their positions in SHLS. Nisa Investment Advisors LLC boosted its position in Shoals Technologies Group by 449.1% during the second quarter. Nisa Investment Advisors LLC now owns 7,226 shares of the company's stock valued at $31,000 after buying an additional 5,910 shares during the period. MQS Management LLC bought a new stake in shares of Shoals Technologies Group in the first quarter valued at about $43,000. Cerity Partners LLC acquired a new stake in shares of Shoals Technologies Group in the 1st quarter worth $43,000. Caitong International Asset Management Co. Ltd acquired a new stake in Shoals Technologies Group during the first quarter worth about $44,000. Finally, Virtu Financial LLC acquired a new position in shares of Shoals Technologies Group during the first quarter valued at approximately $46,000.

Shoals Technologies Group Trading Up 4.3%

Shares of SHLS opened at $5.38 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.58 and a current ratio of 2.34. Shoals Technologies Group has a fifty-two week low of $2.71 and a fifty-two week high of $7.00. The company has a market capitalization of $899.43 million, a PE ratio of 44.83, a price-to-earnings-growth ratio of 0.70 and a beta of 1.61. The stock has a fifty day moving average of $5.30 and a two-hundred day moving average of $4.39.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.02 earnings per share (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%. The company's revenue was down 11.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.07 EPS. As a group, analysts forecast that Shoals Technologies Group will post 0.29 EPS for the current year.

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.

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