Jefferies Financial Group upgraded shares of Shoals Technologies Group (NASDAQ:SHLS - Free Report) from a hold rating to a buy rating in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage currently has $7.20 price target on the stock, up from their prior price target of $4.90.
A number of other equities research analysts have also commented 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 report on Wednesday, May 7th. Guggenheim increased their price target on Shoals Technologies Group from $5.00 to $6.00 and gave the company a "buy" rating in a research report on Friday, May 9th. BNP Paribas reissued an "underperform" rating and issued a $4.00 price target (down from $4.50) on shares of Shoals Technologies Group in a research report on Thursday, May 15th. The Goldman Sachs Group increased their price target on Shoals Technologies Group from $5.00 to $6.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, BNP Paribas Exane lowered Shoals Technologies Group from a "neutral" rating to an "underperform" rating and set a $4.00 target price for the company. in a research report on Thursday, May 15th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $8.63.
Get Our Latest Analysis on Shoals Technologies Group
Shoals Technologies Group Stock Up 5.4%
Shares of NASDAQ:SHLS traded up $0.32 during trading on Monday, reaching $6.30. 9,098,453 shares of the stock were exchanged, compared to its average volume of 5,958,172. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.34 and a quick ratio of 1.58. Shoals Technologies Group has a 1-year low of $2.71 and a 1-year high of $7.08. The stock has a fifty day moving average of $4.84 and a two-hundred day moving average of $4.37. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 52.50, a price-to-earnings-growth ratio of 0.82 and a beta of 1.59.
Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last released its quarterly 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 company had revenue of $80.36 million during the quarter, compared to analysts' expectations of $74.66 million. Shoals Technologies Group had a net margin of 4.90% and a return on equity of 7.63%. The company's quarterly revenue was down 11.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.07 earnings per share. Research analysts anticipate that Shoals Technologies Group will post 0.29 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. MQS Management LLC bought a new position in Shoals Technologies Group in the 1st quarter worth about $43,000. Cerity Partners LLC bought a new position in Shoals Technologies Group in the 1st quarter worth about $43,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Shoals Technologies Group during the 1st quarter valued at about $44,000. Virtu Financial LLC bought a new stake in shares of Shoals Technologies Group during the 1st quarter valued at about $46,000. Finally, FORA Capital LLC bought a new stake in shares of Shoals Technologies Group during the 1st quarter valued at about $51,000.
Shoals Technologies Group Company Profile
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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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