Shoals Technologies Group, Inc. (NASDAQ:SHLS – Get Free Report) has received an average rating of “Moderate Buy” from the seventeen brokerages that are presently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $10.71.
A number of research analysts have commented on the company. The Goldman Sachs Group upped their price objective on Shoals Technologies Group from $11.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Oppenheimer reaffirmed an “outperform” rating and set a $13.00 price target on shares of Shoals Technologies Group in a research report on Tuesday, August 4th. Roth Capital reissued a “buy” rating on shares of Shoals Technologies Group in a report on Thursday, July 2nd. Wells Fargo & Company increased their target price on shares of Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 11th. Finally, Wall Street Zen cut shares of Shoals Technologies Group from a “buy” rating to a “hold” rating in a report on Sunday, August 16th.
View Our Latest Research Report on SHLS
Hedge Funds Weigh In On Shoals Technologies Group
Hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its stake in shares of Shoals Technologies Group by 0.5% during the 1st quarter. Principal Financial Group Inc. now owns 394,094 shares of the company’s stock worth $2,593,000 after purchasing an additional 1,883 shares during the last quarter. KBC Group NV purchased a new position in Shoals Technologies Group in the first quarter valued at approximately $30,000. Ardsley Advisory Partners LP grew its holdings in Shoals Technologies Group by 25.0% during the fourth quarter. Ardsley Advisory Partners LP now owns 25,000 shares of the company’s stock valued at $212,000 after purchasing an additional 5,000 shares during the period. Integrated Wealth Concepts LLC bought a new position in Shoals Technologies Group during the second quarter valued at $53,000. Finally, PNC Financial Services Group Inc. increased its position in Shoals Technologies Group by 378.0% in the first quarter. PNC Financial Services Group Inc. now owns 7,566 shares of the company’s stock worth $50,000 after buying an additional 5,983 shares during the last quarter.
Shoals Technologies Group Stock Up 2.1%
Shoals Technologies Group stock opened at $8.30 on Friday. The company’s 50-day moving average price is $7.79 and its two-hundred day moving average price is $8.55. The company has a quick ratio of 1.12, a current ratio of 2.25 and a debt-to-equity ratio of 0.32. The stock has a market cap of $1.40 billion, a P/E ratio of 43.69, a P/E/G ratio of 1.03 and a beta of 1.85. Shoals Technologies Group has a twelve month low of $5.43 and a twelve month high of $13.18.
Shoals Technologies Group (NASDAQ:SHLS – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The company had revenue of $163.37 million during the quarter, compared to analysts’ expectations of $160.03 million. Shoals Technologies Group had a return on equity of 10.07% and a net margin of 5.41%.The business’s revenue was up 47.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 earnings per share. As a group, analysts expect that Shoals Technologies Group will post 0.34 EPS for the current year.
Shoals Technologies Group Company Profile
Shoals Technologies Group, Inc NASDAQ: SHLS develops electrical balance-of-system (EBOS) products and systems for solar energy installations. Its solutions are designed to connect, protect, monitor and manage the flow of electricity between solar panels and the electrical grid, helping reduce installation complexity and support the performance and safety of photovoltaic projects.
The company’s product portfolio includes electrical wire harnesses, inline fuses, combiner boxes, disconnects, junction boxes, monitoring systems and other power-management equipment.
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