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

Shoals Technologies Group, Inc. (NASDAQ:SHLS) has earned a consensus rating of “Moderate Buy” from the seventeen analysts that are currently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $10.7143.

A number of equities analysts have recently commented on SHLS shares. Oppenheimer reissued an “outperform” rating and issued a $13.00 target price on shares of Shoals Technologies Group in a research note on Tuesday, August 4th. Roth Capital reaffirmed a “buy” rating on shares of Shoals Technologies Group in a report on Thursday, July 2nd. Barclays lifted their target price on Shoals Technologies Group from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Wells Fargo & Company lifted their target price on Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “equal weight” rating in a report on Thursday, June 11th. Finally, Jefferies Financial Group raised their price objective on shares of Shoals Technologies Group from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th.

Shoals Technologies Group Trading Up 0.1%

Shares of SHLS stock opened at $7.06 on Wednesday. The firm has a 50-day moving average price of $8.42 and a 200 day moving average price of $8.41. The company has a current ratio of 2.25, a quick ratio of 1.12 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 37.16, a PEG ratio of 0.87 and a beta of 1.89. Shoals Technologies Group has a twelve month low of $5.43 and a twelve month high of $13.18.

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

Hedge Funds Weigh In On Shoals Technologies Group

A number of institutional investors and hedge funds have recently bought and sold shares of SHLS. Principal Financial Group Inc. increased its position in shares of Shoals Technologies Group by 0.5% during the first quarter. Principal Financial Group Inc. now owns 394,094 shares of the company’s stock worth $2,593,000 after purchasing an additional 1,883 shares in the last quarter. KBC Group NV acquired a new stake in shares of Shoals Technologies Group in the 1st quarter worth approximately $30,000. Ardsley Advisory Partners LP raised its position in Shoals Technologies Group by 25.0% during the fourth quarter. Ardsley Advisory Partners LP now owns 25,000 shares of the company’s stock worth $212,000 after acquiring an additional 5,000 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Shoals Technologies Group in the second quarter valued at $53,000. Finally, PNC Financial Services Group Inc. grew its stake in Shoals Technologies Group by 378.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,566 shares of the company’s stock worth $50,000 after acquiring an additional 5,983 shares during the period.

Shoals Technologies Group Company Profile

Shoals Technologies Group, Inc (NASDAQ: SHLS) develops and supplies electrical balance-of-system (EBOS) products for solar energy installations. Its solutions connect, protect, combine and monitor the electrical output of photovoltaic panels, helping solar developers and installers improve system reliability and simplify project construction.

The company’s product portfolio includes wire harnesses, junction boxes, inline fuses, disconnects, recombiners, cable-management systems and other wiring and connectivity solutions.