Shoals Technologies Group (NASDAQ:SHLS) Given New $10.00 Price Target at Wells Fargo & Company

Shoals Technologies Group (NASDAQ:SHLS) had its target price upped by stock analysts at Wells Fargo & Company from $6.00 to $10.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 7.70% from the company’s current price.

SHLS has been the topic of a number of other reports. Zacks Research raised Shoals Technologies Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. Morgan Stanley increased their price target on Shoals Technologies Group from $7.00 to $11.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Needham & Company LLC initiated coverage on Shoals Technologies Group in a research report on Wednesday, October 22nd. They issued a “buy” rating and a $12.00 target price on the stock. UBS Group upped their price objective on shares of Shoals Technologies Group from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Barclays upgraded shares of Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $7.00 to $10.00 in a research report on Thursday, October 2nd. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.62.

Shoals Technologies Group Trading Down 0.5%

Shares of SHLS traded down $0.05 during mid-day trading on Thursday, reaching $9.29. The company had a trading volume of 1,418,472 shares, compared to its average volume of 6,419,429. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 46.44, a price-to-earnings-growth ratio of 1.11 and a beta of 1.69. The company has a current ratio of 2.34, a quick ratio of 1.64 and a debt-to-equity ratio of 0.23. The firm has a fifty day simple moving average of $8.47 and a 200-day simple moving average of $6.26. Shoals Technologies Group has a fifty-two week low of $2.71 and a fifty-two week high of $11.36.

Shoals Technologies Group (NASDAQ:SHLS) last posted its earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.02. Shoals Technologies Group had a net margin of 7.66% and a return on equity of 8.60%. The business had revenue of $110.84 million for the quarter, compared to analyst estimates of $104.87 million. During the same quarter in the previous year, the business posted $0.10 EPS. The business’s quarterly revenue was up 11.7% on a year-over-year basis. On average, sell-side analysts anticipate that Shoals Technologies Group will post 0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Shoals Technologies Group

Hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its position in Shoals Technologies Group by 449.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,226 shares of the company’s stock worth $31,000 after purchasing an additional 5,910 shares during the last quarter. Cerity Partners LLC bought a new stake in shares of Shoals Technologies Group in the 1st quarter worth approximately $43,000. MQS Management LLC bought a new stake in shares of Shoals Technologies Group during the first quarter valued at approximately $43,000. Caitong International Asset Management Co. Ltd bought a new position in Shoals Technologies Group in the first quarter worth $44,000. Finally, Virtu Financial LLC acquired a new stake in Shoals Technologies Group during the first quarter worth $46,000.

Shoals Technologies Group Company Profile

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.