Shoals Technologies Group (NASDAQ:SHLS) Given New $8.00 Price Target at Jefferies Financial Group

Shoals Technologies Group (NASDAQ:SHLS) had its price target lowered by stock analysts at Jefferies Financial Group from $10.00 to $8.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s price target would indicate a potential upside of 28.72% from the stock’s current price.

Other analysts have also recently issued reports about the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Shoals Technologies Group in a research report on Monday, February 9th. Weiss Ratings restated a “hold (c)” rating on shares of Shoals Technologies Group in a research note on Friday, January 9th. Citigroup dropped their target price 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. Needham & Company LLC dropped their price objective on Shoals Technologies Group from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Finally, BNP Paribas Exane upgraded shares of Shoals Technologies Group from an “underperform” rating to a “neutral” rating and set a $9.00 target price on the stock in a research report on Wednesday, February 25th. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $9.57.

Shoals Technologies Group Trading Down 0.9%

NASDAQ:SHLS traded down $0.06 during trading hours on Wednesday, hitting $6.22. The stock had a trading volume of 3,949,564 shares, compared to its average volume of 5,143,358. The business’s 50 day moving average is $8.84 and its 200-day moving average is $8.57. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.32 and a current ratio of 2.03. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 31.08, a P/E/G ratio of 0.70 and a beta of 1.77. Shoals Technologies Group has a one year low of $2.73 and a one year high of $11.36.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). Shoals Technologies Group had a net margin of 7.06% and a return on equity of 9.10%. The company had revenue of $148.33 million during the quarter, compared to the consensus estimate of $144.52 million. During the same period in the previous year, the firm posted $0.08 EPS. The business’s quarterly revenue was up 38.6% compared to the same quarter last year. Sell-side analysts anticipate that Shoals Technologies Group will post 0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Shoals Technologies Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd raised its position in Shoals Technologies Group by 815.6% in the second quarter. Dynamic Technology Lab Private Ltd now owns 157,946 shares of the company’s stock worth $671,000 after acquiring an additional 140,696 shares during the period. Ruffer LLP bought a new stake in shares of Shoals Technologies Group during the 3rd quarter valued at $2,735,000. Financial Enhancement Group LLC bought a new stake in shares of Shoals Technologies Group during the third quarter valued at about $832,000. Erste Asset Management GmbH lifted its stake in Shoals Technologies Group by 44.1% in the 3rd quarter. Erste Asset Management GmbH now owns 4,516,372 shares of the company’s stock worth $33,873,000 after purchasing an additional 1,382,999 shares in the last quarter. Finally, Great Lakes Advisors LLC purchased a new stake in shares of Shoals Technologies Group in the third quarter worth $1,546,000.

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.