Shoals Technologies Group (NASDAQ:SHLS) Given New $11.00 Price Target at Jefferies Financial Group

Shoals Technologies Group (NASDAQ:SHLS) had its target price decreased by research analysts at Jefferies Financial Group from $12.00 to $11.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s price target points to a potential upside of 40.31% from the stock’s current price.

SHLS has been the subject of several other reports. Wall Street Zen lowered Shoals Technologies Group from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. Oppenheimer restated an “outperform” rating and set a $13.00 price objective on shares of Shoals Technologies Group in a research note on Tuesday, August 4th. The Goldman Sachs Group raised their price objective on Shoals Technologies Group from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Royal Bank Of Canada raised their price objective on Shoals Technologies Group from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Finally, Roth Capital reiterated a “buy” rating on shares of Shoals Technologies Group in a research note on Thursday, July 2nd. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Shoals Technologies Group presently has a consensus rating of “Moderate Buy” and an average price target of $10.71.

Shoals Technologies Group Stock Down 9.4%

NASDAQ:SHLS traded down $0.81 during trading hours on Wednesday, reaching $7.84. The company’s stock had a trading volume of 4,751,710 shares, compared to its average volume of 5,178,801. The company has a market capitalization of $1.32 billion, a P/E ratio of 41.27, a price-to-earnings-growth ratio of 1.07 and a beta of 1.85. 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 quick ratio of 1.12 and a current ratio of 2.25. The stock has a 50 day moving average price of $7.74 and a two-hundred day moving average price of $8.67.

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

Institutional Investors Weigh In On Shoals Technologies Group

Large investors have recently made changes to their positions in the stock. Mirador Capital Partners LP increased its position in shares of Shoals Technologies Group by 4.7% in the 3rd quarter. Mirador Capital Partners LP now owns 60,728 shares of the company’s stock valued at $492,000 after acquiring an additional 2,708 shares during the period. Farther Finance Advisors LLC raised its stake in Shoals Technologies Group by 428.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,134 shares of the company’s stock worth $33,000 after acquiring an additional 3,352 shares during the last quarter. Tidal Investments LLC lifted its position in Shoals Technologies Group by 91.3% during the 2nd 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. WINTON GROUP Ltd acquired a new stake in Shoals Technologies Group during the 2nd quarter worth about $794,000. Finally, Engineers Gate Manager LP acquired a new stake in Shoals Technologies Group during the 2nd quarter worth about $300,000.

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.