Brokerages Set Shoals Technologies Group, Inc. (NASDAQ:SHLS) Target Price at $9.57
by Danessa Lincoln · The Markets DailyShoals Technologies Group, Inc. (NASDAQ:SHLS – Get Free Report) has earned an average recommendation of “Moderate Buy” from the seventeen research firms that are covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $9.5714.
A number of equities analysts have recently issued reports on the stock. Barclays dropped their price objective on shares of Shoals Technologies Group from $10.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Shoals Technologies Group in a research note on Friday, January 9th. Citigroup dropped their price target on shares of Shoals Technologies Group from $11.00 to $8.50 and set a “neutral” rating for the company in a research report on Thursday, February 26th. The Goldman Sachs Group restated a “buy” rating on shares of Shoals Technologies Group in a research note on Monday, February 9th. Finally, Morgan Stanley decreased their price objective on Shoals Technologies Group from $9.50 to $8.50 and set an “equal weight” rating on the stock in a report on Wednesday, February 25th.
Check Out Our Latest Stock Analysis on SHLS
Shoals Technologies Group Price Performance
Shares of NASDAQ:SHLS opened at $6.10 on Wednesday. Shoals Technologies Group has a 1-year low of $2.92 and a 1-year high of $11.36. The firm has a market capitalization of $1.02 billion, a PE ratio of 30.50, a PEG ratio of 0.84 and a beta of 1.77. The business’s 50 day moving average is $8.41 and its 200-day moving average is $8.54. The company has a current ratio of 2.03, a quick ratio of 1.32 and a debt-to-equity ratio of 0.23.
Shoals Technologies Group (NASDAQ:SHLS – Get Free Report) last issued its earnings results on Tuesday, February 24th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The firm had revenue of $148.33 million during the quarter, compared to analyst estimates of $144.52 million. Shoals Technologies Group had a net margin of 7.06% and a return on equity of 9.10%. The business’s revenue for the quarter was up 38.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 earnings per share. Sell-side analysts predict that Shoals Technologies Group will post 0.29 earnings per share for the current year.
Institutional Trading of Shoals Technologies Group
Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its stake in Shoals Technologies Group by 57.7% during the fourth quarter. GAMMA Investing LLC now owns 3,756 shares of the company’s stock worth $32,000 after acquiring an additional 1,375 shares in the last quarter. USA Financial Formulas acquired a new stake in shares of Shoals Technologies Group in the 4th quarter valued at $49,000. Savant Capital LLC bought a new stake in shares of Shoals Technologies Group in the 2nd quarter worth about $50,000. State of Alaska Department of Revenue bought a new stake in shares of Shoals Technologies Group in the 3rd quarter worth about $54,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Shoals Technologies Group during the 1st quarter worth about $57,000.
Shoals Technologies Group Company Profile
Shoals Technologies Group, Inc is a leading provider of electrical balance-of-system (BOS) solutions for the solar energy industry. The company designs, engineers and manufactures a comprehensive portfolio of products, including junction boxes, combiner boxes, cable assemblies, power distribution units and monitoring systems. These components are critical to interconnecting photovoltaic modules, optimizing energy output and ensuring safe, reliable performance across solar installations.
Founded in 1996 and headquartered in Portland, Tennessee, Shoals has grown its manufacturing and operations footprint to serve customers around the globe.