The Goldman Sachs Group Forecasts Strong Price Appreciation for Shoals Technologies Group (NASDAQ:SHLS) Stock

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 objective increased by equities researchers at The Goldman Sachs Group from $7.00 to $8.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. The Goldman Sachs Group's price target would suggest a potential upside of 14.68% from the company's current price.

Other analysts have also issued reports about the stock. Roth Capital raised shares of Shoals Technologies Group from a "neutral" rating to a "buy" rating and set a $10.00 target price for the company in a research note on Thursday, August 7th. Jefferies Financial Group upped their price objective on shares of Shoals Technologies Group from $6.00 to $9.00 and gave the stock a "buy" rating in a research note on Monday. Guggenheim increased their price objective on shares of Shoals Technologies Group from $6.00 to $8.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. BNP Paribas restated an "underperform" rating and issued a $4.00 price target (down from $4.50) on shares of Shoals Technologies Group in a report on Thursday, May 15th. Finally, Mizuho cut shares of Shoals Technologies Group from an "outperform" rating to a "neutral" rating and set a $7.00 price target for the company. in a report on Monday, July 14th. Fourteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $9.33.

Shoals Technologies Group Stock Performance

NASDAQ SHLS traded up $0.10 on Thursday, reaching $6.98. 1,991,955 shares of the stock were exchanged, compared to its average volume of 6,310,397. The firm has a market capitalization of $1.17 billion, a PE ratio of 53.73, a PEG ratio of 0.81 and a beta of 1.63. Shoals Technologies Group has a one year low of $2.71 and a one year high of $7.62. The company has a current ratio of 2.34, a quick ratio of 1.64 and a debt-to-equity ratio of 0.23. The company's 50-day simple moving average is $5.86 and its two-hundred day simple moving average is $4.68.

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

Hedge Funds Weigh In On Shoals Technologies Group

A number of institutional investors have recently modified their holdings of SHLS. Nisa Investment Advisors LLC boosted its position in shares of Shoals Technologies Group by 449.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,226 shares of the company's stock worth $31,000 after buying an additional 5,910 shares in the last quarter. MQS Management LLC purchased a new position 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 during the 1st quarter worth approximately $43,000. Caitong International Asset Management Co. Ltd acquired a new stake in Shoals Technologies Group in the first quarter valued at approximately $44,000. Finally, Virtu Financial LLC acquired a new stake in Shoals Technologies Group in the first 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.

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