Shoals Technologies Group, Inc. (NASDAQ:SHLS) Stock Has Consensus Price Target of $10.71

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) have earned an average recommendation of “Moderate Buy” from the seventeen research firms that are presently covering the company, 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 1 year price objective among analysts that have covered the stock in the last year is $10.71.

Several equities analysts recently commented on SHLS shares. Barclays increased their price objective on shares of Shoals Technologies Group from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Citigroup reaffirmed a “neutral” rating on shares of Shoals Technologies Group in a research note on Wednesday, July 22nd. Oppenheimer reiterated an “outperform” rating and issued a $13.00 price target on shares of Shoals Technologies Group in a research note on Tuesday, August 4th. Roth Capital reissued a “buy” rating on shares of Shoals Technologies Group in a report on Thursday, July 2nd. Finally, Jefferies Financial Group boosted their price objective on Shoals Technologies Group from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th.

Institutional Investors Weigh In On Shoals Technologies Group

Institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC lifted its stake in shares of Shoals Technologies Group by 91.3% in the second quarter. Tidal Investments LLC now owns 371,409 shares of the company’s stock worth $3,677,000 after acquiring an additional 177,223 shares during the period. Telemark Asset Management LLC increased its position in Shoals Technologies Group by 50.0% during the 4th quarter. Telemark Asset Management LLC now owns 1,500,000 shares of the company’s stock valued at $12,750,000 after purchasing an additional 500,000 shares during the period. Squarepoint Ops LLC raised its holdings in Shoals Technologies Group by 410.9% during the 2nd quarter. Squarepoint Ops LLC now owns 367,387 shares of the company’s stock worth $3,637,000 after purchasing an additional 295,484 shares during the last quarter. Great Lakes Advisors LLC bought a new position in Shoals Technologies Group during the 2nd quarter worth approximately $1,608,000. Finally, Edgestream Partners L.P. acquired a new position in shares of Shoals Technologies Group in the 1st quarter worth approximately $2,235,000.

Shoals Technologies Group Stock Performance

Shoals Technologies Group stock opened at $8.49 on Friday. Shoals Technologies Group has a 12-month low of $5.43 and a 12-month high of $13.18. 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 business’s 50-day moving average price is $7.76 and its two-hundred day moving average price is $8.59. The stock has a market cap of $1.43 billion, a PE ratio of 44.69, a P/E/G ratio of 1.01 and a beta of 1.85.

Shoals Technologies Group (NASDAQ:SHLS) last posted its earnings results on Tuesday, August 4th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. Shoals Technologies Group had a net margin of 5.41% and a return on equity of 10.07%. The firm had revenue of $163.37 million during the quarter, compared to analysts’ expectations of $160.03 million. During the same quarter in the prior year, the business earned $0.10 earnings per share. The business’s revenue for the quarter was up 47.4% compared to the same quarter last year. As a group, analysts expect that Shoals Technologies Group will post 0.34 earnings per share for the current fiscal 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.