Shoals Technologies Group (NASDAQ:SHLS) Upgraded by Jefferies Financial Group to "Buy" Rating

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 published on Monday, MarketBeat.com reports. Jefferies Financial Group currently has $7.20 price objective on the stock, up from their prior price objective of $4.90.

A number of other research analysts also recently weighed in on SHLS. BNP Paribas reissued an "underperform" rating and issued a $4.00 price objective (down from $4.50) on shares of Shoals Technologies Group in a research note on Thursday, May 15th. Citigroup lifted their price target on shares of 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 upped their price objective on shares of Shoals Technologies Group from $5.00 to $6.00 and gave the stock a "buy" rating in a report on Friday, May 9th. The Goldman Sachs Group raised their target price on shares of Shoals Technologies Group from $5.00 to $6.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Finally, BNP Paribas Exane lowered shares of Shoals Technologies Group from a "neutral" rating to an "underperform" rating and set a $4.00 target price on the stock. in a research note on Thursday, May 15th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $8.63.

Shoals Technologies Group Stock Up 0.7%

Shares of NASDAQ:SHLS traded up $0.04 during midday trading on Monday, hitting $5.78. 4,291,612 shares of the stock were exchanged, compared to its average volume of 5,950,349. Shoals Technologies Group has a 52-week low of $2.71 and a 52-week high of $7.08. The business's fifty day simple moving average is $4.97 and its two-hundred day simple moving average is $4.40. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.58 and a current ratio of 2.34. The company has a market capitalization of $966.27 million, a PE ratio of 48.17, a P/E/G ratio of 0.78 and a beta of 1.59.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates 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 firm's revenue for the quarter was down 11.2% on a year-over-year basis. During the same period last year, the business earned $0.07 earnings per share. As a group, research analysts predict that Shoals Technologies Group will post 0.29 earnings per share for the current fiscal year.

Institutional Trading of Shoals Technologies Group

Institutional investors have recently made changes to their positions in the business. Cerity Partners LLC acquired a new stake in shares of Shoals Technologies Group in the 1st quarter valued at $43,000. MQS Management LLC bought a new position in Shoals Technologies Group in the first quarter valued at approximately $43,000. Caitong International Asset Management Co. Ltd acquired a new position in Shoals Technologies Group in the first quarter valued at about $44,000. Virtu Financial LLC acquired a new stake in shares of Shoals Technologies Group in the 1st quarter valued at approximately $46,000. Finally, FORA Capital LLC acquired a new stake in Shoals Technologies Group in the first quarter worth $51,000.

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.