Shoals Technologies Group (NASDAQ:SHLS) Price Target Raised to $8.00 at The Goldman Sachs Group

Key Points

• Goldman Sachs has raised the price target for Shoals Technologies Group from $7.00 to $8.00, indicating a potential upside of 14.68% based on the company's current price.
• Other analysts, including Roth Capital and Jefferies, have also upgraded the stock to a "buy" rating, with price targets ranging from $9.00 to $10.00.
• Shoals Technologies reported earnings of $0.10 per share for the last quarter, exceeding expectations, and its revenue increased by 11.7% year-over-year.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) had its price target increased by analysts at The Goldman Sachs Group from $7.00 to $8.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. The Goldman Sachs Group's price target would suggest a potential upside of 12.52% from the stock's previous close.

SHLS has been the topic of a number of other research reports. Jefferies Financial Group raised their target price on shares of Shoals Technologies Group from $6.00 to $9.00 and gave the stock a "buy" rating in a report on Monday, September 8th. BNP Paribas Exane cut Shoals Technologies Group from a "neutral" rating to an "underperform" rating and set a $4.00 price target on the stock. in a report on Thursday, May 15th. BNP Paribas reaffirmed an "underperform" rating and set a $4.00 price target (down previously from $4.50) on shares of Shoals Technologies Group in a report on Thursday, May 15th. Guggenheim boosted their target price on Shoals Technologies Group from $6.00 to $8.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Finally, UBS Group dropped their target price on Shoals Technologies Group from $7.50 to $7.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $9.33.

Shoals Technologies Group Stock Up 0.4%

NASDAQ:SHLS traded up $0.03 during mid-day trading on Thursday, hitting $7.11. The company had a trading volume of 4,863,055 shares, compared to its average volume of 6,284,074. The business has a fifty day simple moving average of $5.91 and a 200-day simple moving average of $4.76. The company has a current ratio of 2.34, a quick ratio of 1.64 and a debt-to-equity ratio of 0.23. Shoals Technologies Group has a 1 year low of $2.71 and a 1 year high of $7.62. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 54.70, a PEG ratio of 0.84 and a beta of 1.62.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.02. The company had revenue of $110.84 million during the quarter, compared to the consensus estimate of $104.87 million. Shoals Technologies Group had a return on equity of 7.57% and a net margin of 5.27%.The company's revenue was up 11.7% on a year-over-year basis. During the same period last year, the firm earned $0.10 earnings per share. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities analysts forecast that Shoals Technologies Group will post 0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shoals Technologies Group

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

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.