Shoals Technologies Group (NASDAQ:SHLS) Earns Hold Rating from Analysts at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of Shoals Technologies Group (NASDAQ:SHLS) in a report released on Wednesday morning, MarketBeat Ratings reports. The firm issued a hold rating and a $5.00 target price on the stock.

A number of other research analysts also recently issued reports on SHLS. UBS Group cut their price objective on shares of Shoals Technologies Group from $12.00 to $9.00 and set a buy rating on the stock in a research report on Wednesday, August 7th. Northland Securities cut their price target on shares of Shoals Technologies Group from $6.00 to $4.00 and set an underperform rating on the stock in a report on Thursday, August 8th. Barclays reduced their price target on Shoals Technologies Group from $10.00 to $7.00 and set an equal weight rating on the stock in a research report on Thursday, August 8th. Citigroup cut Shoals Technologies Group from a buy rating to a sell rating and lowered their price objective for the stock from $15.00 to $5.00 in a research report on Tuesday, July 2nd. Finally, Northland Capmk lowered Shoals Technologies Group from a hold rating to a strong sell rating in a research report on Wednesday, May 8th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Shoals Technologies Group presently has an average rating of Hold and an average price target of $11.06.

Shoals Technologies Group Stock Up 3.1 %

Shoals Technologies Group stock opened at $5.65 on Wednesday. The company has a quick ratio of 1.50, a current ratio of 2.26 and a debt-to-equity ratio of 0.27. The firm has a market cap of $941.57 million, a P/E ratio of 31.39, a P/E/G ratio of 0.82 and a beta of 1.74. The business has a fifty day moving average of $5.92 and a two-hundred day moving average of $8.20. Shoals Technologies Group has a twelve month low of $4.88 and a twelve month high of $22.40.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. Shoals Technologies Group had a return on equity of 12.75% and a net margin of 5.13%. The firm had revenue of $99.25 million during the quarter, compared to analysts’ expectations of $90.57 million. During the same period in the prior year, the business posted $0.12 EPS. The firm’s quarterly revenue was down 16.7% on a year-over-year basis. On average, analysts forecast that Shoals Technologies Group will post 0.31 earnings per share for the current fiscal year.

Institutional Trading of Shoals Technologies Group

A number of hedge funds have recently modified their holdings of SHLS. ANTIPODES PARTNERS Ltd lifted its holdings in Shoals Technologies Group by 122.4% in the first quarter. ANTIPODES PARTNERS Ltd now owns 4,793 shares of the company’s stock valued at $54,000 after acquiring an additional 2,638 shares during the period. Headlands Technologies LLC acquired a new position in shares of Shoals Technologies Group in the 1st quarter valued at $92,000. 1620 Investment Advisors Inc. purchased a new stake in Shoals Technologies Group during the second quarter worth $54,000. Mackenzie Financial Corp purchased a new stake in Shoals Technologies Group during the second quarter worth $64,000. Finally, Paloma Partners Management Co acquired a new stake in Shoals Technologies Group during the first quarter valued at $115,000.

About Shoals Technologies Group

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.