Shoals Technologies Group (SHLS) – Investment Analysts’ Recent Ratings Updates

Shoals Technologies Group (NASDAQ: SHLS) has recently received a number of price target changes and ratings updates:

• 9/17/2024 – Shoals Technologies Group had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $12.00 price target on the stock.
• 9/10/2024 – Shoals Technologies Group had its price target raised by analysts at Piper Sandler from $8.00 to $10.00. They now have an “overweight” rating on the stock.
• 9/6/2024 – Shoals Technologies Group had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $11.00 price target on the stock.
• 9/6/2024 – Shoals Technologies Group had its price target lowered by analysts at Roth Mkm from $7.00 to $6.00. They now have a “neutral” rating on the stock.
• 9/6/2024 – Shoals Technologies Group had its price target lowered by analysts at Truist Financial Co. from $10.00 to $8.00. They now have a “buy” rating on the stock.
• 9/4/2024 – Shoals Technologies Group is now covered by analysts at Jefferies Financial Group Inc.. They set a “hold” rating and a $5.00 price target on the stock.
• 8/8/2024 – Shoals Technologies Group had its price target lowered by analysts at Northland Securities from $6.00 to $4.00. They now have an “underperform” rating on the stock.
• 8/8/2024 – Shoals Technologies Group had its price target lowered by analysts at Barclays PLC from $10.00 to $7.00. They now have an “equal weight” rating on the stock.
• 8/7/2024 – Shoals Technologies Group was downgraded by analysts at Roth Capital from a “hold” rating to a “strong sell” rating.
• 8/7/2024 – Shoals Technologies Group had its price target lowered by analysts at JPMorgan Chase & Co. from $23.00 to $19.00. They now have an “overweight” rating on the stock.
• 8/7/2024 – Shoals Technologies Group had its price target lowered by analysts at Piper Sandler from $11.00 to $8.00. They now have an “overweight” rating on the stock.
• 8/7/2024 – Shoals Technologies Group had its price target lowered by analysts at Oppenheimer Holdings Inc. from $14.00 to $12.00. They now have an “outperform” rating on the stock.
• 8/7/2024 – Shoals Technologies Group was downgraded by analysts at BNP Paribas from an “outperform” rating to a “neutral” rating. They now have a $7.00 price target on the stock, down previously from $15.00.
• 8/7/2024 – Shoals Technologies Group had its price target lowered by analysts at UBS Group AG from $12.00 to $9.00. They now have a “buy” rating on the stock.
• 8/7/2024 – Shoals Technologies Group had its “buy” rating reaffirmed by analysts at Truist Financial Co.. They now have a $10.00 price target on the stock, down previously from $12.00.

Shoals Technologies Group Stock Performance

Shares of SHLS stock opened at $6.40 on Tuesday. The company has a current ratio of 2.26, a quick ratio of 1.50 and a debt-to-equity ratio of 0.27. The company has a market cap of $1.09 billion, a PE ratio of 35.56, a P/E/G ratio of 0.91 and a beta of 1.74. The company’s fifty day simple moving average is $5.92 and its 200-day simple moving average is $7.57. Shoals Technologies Group, Inc. has a 52 week low of $4.88 and a 52 week high of $20.63.

Shoals Technologies Group (NASDAQ:SHLS) last issued its earnings results on Tuesday, August 6th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.02. The company had revenue of $99.25 million during the quarter, compared to the consensus estimate of $90.57 million. Shoals Technologies Group had a return on equity of 12.75% and a net margin of 5.13%. The company’s revenue was down 16.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.12 earnings per share. As a group, equities research analysts anticipate that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. ANTIPODES PARTNERS Ltd increased its stake in Shoals Technologies Group by 122.4% during the 1st quarter. ANTIPODES PARTNERS Ltd now owns 4,793 shares of the company’s stock worth $54,000 after buying an additional 2,638 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in shares of Shoals Technologies Group during the second quarter worth about $54,000. Mackenzie Financial Corp acquired a new position in shares of Shoals Technologies Group in the second quarter worth about $64,000. American Trust purchased a new position in Shoals Technologies Group in the second quarter valued at about $68,000. Finally, Versor Investments LP acquired a new stake in Shoals Technologies Group during the 2nd quarter valued at approximately $80,000.

Shoals Technologies Group, Inc provides electrical balance of system (EBOS) solutions and components for solar, battery energy, and electric vehicle (EV) charging applications in the United States and internationally. The company designs, manufactures, and sells system solutions for both homerun and combine-as-you-go wiring architectures, as well as offers technical support services.