Analysts Set Shoals Technologies Group, Inc. (NASDAQ:SHLS) PT at $9.57

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) have been assigned an average rating of “Moderate Buy” from the seventeen analysts that are currently covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $9.5714.

SHLS has been the subject of a number of recent analyst reports. The Goldman Sachs Group reiterated a “buy” rating on shares of Shoals Technologies Group in a research report on Monday, February 9th. Jefferies Financial Group dropped their target price on shares of Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, March 11th. Guggenheim cut their target price on shares of Shoals Technologies Group from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. UBS Group reduced their price target on shares of Shoals Technologies Group from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Finally, Morgan Stanley decreased their price target on shares of Shoals Technologies Group from $9.50 to $8.50 and set an “equal weight” rating on the stock in a research note on Wednesday, February 25th.

Institutional Investors Weigh In On Shoals Technologies Group

A number of hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC grew its holdings in shares of Shoals Technologies Group by 45.4% in the fourth quarter. Hsbc Holdings PLC now owns 17,429 shares of the company’s stock valued at $148,000 after purchasing an additional 5,440 shares in the last quarter. Invesco Ltd. raised its stake in Shoals Technologies Group by 5.8% during the fourth quarter. Invesco Ltd. now owns 5,877,652 shares of the company’s stock valued at $49,960,000 after purchasing an additional 323,831 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in Shoals Technologies Group by 20.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 13,670 shares of the company’s stock valued at $116,000 after purchasing an additional 2,304 shares during the last quarter. nVerses Capital LLC bought a new position in Shoals Technologies Group during the fourth quarter valued at $127,000. Finally, Polymer Capital Management US LLC purchased a new position in shares of Shoals Technologies Group in the 4th quarter worth $201,000.

Shoals Technologies Group Stock Performance

Shares of NASDAQ SHLS opened at $6.10 on Wednesday. The firm has a 50 day moving average of $8.41 and a 200 day moving average of $8.51. The company has a current ratio of 2.03, a quick ratio of 1.32 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 30.50, a price-to-earnings-growth ratio of 0.84 and a beta of 1.77. Shoals Technologies Group has a 12-month low of $2.92 and a 12-month high of $11.36.

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

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.