Shoals Technologies Group, Inc. (NASDAQ:SHLS) Given Consensus Rating of “Moderate Buy” by Analysts

Shoals Technologies Group, Inc. (NASDAQ:SHLSGet Free Report) has received a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $17.29.

Several equities analysts have recently weighed in on the company. Truist Financial reissued a “buy” rating and set a $20.00 target price (down previously from $23.00) on shares of Shoals Technologies Group in a research report on Thursday, February 29th. UBS Group cut their target price on Shoals Technologies Group from $28.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, March 1st. Piper Sandler cut their price objective on Shoals Technologies Group from $14.00 to $11.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. Cantor Fitzgerald cut their price objective on Shoals Technologies Group from $24.00 to $14.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. Finally, Northland Securities reaffirmed an “underperform” rating and issued a $6.00 price objective (down previously from $12.00) on shares of Shoals Technologies Group in a research report on Wednesday, May 8th.

View Our Latest Stock Analysis on SHLS

Shoals Technologies Group Stock Performance

NASDAQ:SHLS opened at $6.81 on Thursday. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 37.84 and a beta of 1.82. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.62 and a quick ratio of 1.87. The stock’s 50 day simple moving average is $8.26 and its two-hundred day simple moving average is $12.01. Shoals Technologies Group has a 1 year low of $6.28 and a 1 year high of $28.34.

Shoals Technologies Group (NASDAQ:SHLSGet Free Report) last released its earnings results on Tuesday, May 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The firm had revenue of $90.81 million for the quarter, compared to the consensus estimate of $94.44 million. Shoals Technologies Group had a return on equity of 13.95% and a net margin of 6.42%. As a group, equities analysts anticipate that Shoals Technologies Group will post 0.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shoals Technologies Group

A number of hedge funds have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale lifted its stake in shares of Shoals Technologies Group by 159.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 28,003 shares of the company’s stock worth $313,000 after purchasing an additional 17,203 shares during the last quarter. Redwood Grove Capital LLC purchased a new stake in shares of Shoals Technologies Group during the 1st quarter worth $7,741,000. Swedbank AB purchased a new stake in shares of Shoals Technologies Group during the 1st quarter worth $25,268,000. Virtu Financial LLC lifted its stake in shares of Shoals Technologies Group by 726.5% during the 1st quarter. Virtu Financial LLC now owns 103,683 shares of the company’s stock worth $1,159,000 after purchasing an additional 91,138 shares during the last quarter. Finally, Yaupon Capital Management LP lifted its stake in shares of Shoals Technologies Group by 88.0% during the 1st quarter. Yaupon Capital Management LP now owns 797,579 shares of the company’s stock worth $8,917,000 after purchasing an additional 373,381 shares during the last quarter.

Shoals Technologies Group Company Profile

(Get Free Report

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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Analyst Recommendations for Shoals Technologies Group (NASDAQ:SHLS)

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