Shoals Technologies Group, Inc. (NASDAQ:SHLS) Stock Has Average Price Target of $10.80 According to Analysts

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) have been given a consensus recommendation of “Moderate Buy” by the eighteen analysts that are covering the stock, MarketBeat.com reports. Seven 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 target among analysts that have issued ratings on the stock in the last year is $10.80.

SHLS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Shoals Technologies Group from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Monday, October 19th. Oppenheimer restated an “outperform” rating and issued a $13.00 price objective on shares of Shoals Technologies Group in a research report on Tuesday, August 4th. The Goldman Sachs Group lifted their price objective on Shoals Technologies Group from $11.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Barclays boosted their target price on Shoals Technologies Group from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Thursday, October 8th. Finally, Mizuho dropped their target price on Shoals Technologies Group from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Friday, October 16th.

Institutional Trading of Shoals Technologies Group

Institutional investors have recently modified their holdings of the business. Cidel Asset Management Inc. grew its stake in shares of Shoals Technologies Group by 8.5% during the 3rd quarter. Cidel Asset Management Inc. now owns 142,557 shares of the company’s stock worth $1,155,000 after purchasing an additional 11,217 shares during the period. State of Wyoming boosted its holdings in Shoals Technologies Group by 161.8% during the third quarter. State of Wyoming now owns 38,003 shares of the company’s stock worth $308,000 after buying an additional 23,488 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in Shoals Technologies Group during the third quarter worth about $126,000. Sterling Capital Management LLC grew its position in Shoals Technologies Group by 604.6% during the third quarter. Sterling Capital Management LLC now owns 5,482 shares of the company’s stock worth $44,000 after buying an additional 4,704 shares during the period. Finally, Mirador Capital Partners LP grew its position in Shoals Technologies Group by 4.7% during the third quarter. Mirador Capital Partners LP now owns 60,728 shares of the company’s stock worth $492,000 after buying an additional 2,708 shares during the period.

Shoals Technologies Group Price Performance

Shoals Technologies Group stock opened at $7.20 on Thursday. Shoals Technologies Group has a 12 month low of $5.43 and a 12 month high of $13.18. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.25 and a quick ratio of 1.12. The business has a 50 day simple moving average of $7.56 and a 200-day simple moving average of $8.48. The stock has a market capitalization of $1.21 billion, a PE ratio of 37.90, a price-to-earnings-growth ratio of 0.86 and a beta of 1.85.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.02. The firm had revenue of $163.37 million during the quarter, compared to the consensus estimate of $160.03 million. Shoals Technologies Group had a return on equity of 10.07% and a net margin of 5.41%. The company’s revenue for the quarter was up 47.4% on a year-over-year basis. During the same period last year, the company earned $0.10 earnings per share. Equities analysts predict that Shoals Technologies Group will post 0.35 earnings per share for the current year.

About Shoals Technologies Group

Shoals Technologies Group, Inc develops electrical balance-of-system (EBOS) solutions for solar energy projects. Its products connect, protect, combine and monitor the direct-current electrical output of solar panels before electricity is converted and delivered to the broader power system.

The company’s product portfolio includes wire harnesses, junction boxes, inline fuses, disconnects, recombiners, communication and monitoring equipment, and other electrical components used in photovoltaic installations.