Shoals Technologies Group (NASDAQ:SHLS) Price Target Raised to $29.00 at Credit Suisse Group

Shoals Technologies Group (NASDAQ:SHLSGet Rating) had its target price increased by Credit Suisse Group from $26.00 to $29.00 in a report published on Tuesday morning, Benzinga reports. They currently have an outperform rating on the stock.

SHLS has been the topic of a number of other reports. Morgan Stanley lowered their price target on Shoals Technologies Group from $36.00 to $32.00 and set an equal weight rating on the stock in a research note on Tuesday, January 10th. The Goldman Sachs Group boosted their price objective on Shoals Technologies Group from $18.00 to $20.00 and gave the stock a sell rating in a research note on Tuesday, November 15th. JPMorgan Chase & Co. boosted their price objective on Shoals Technologies Group from $35.00 to $36.00 in a research note on Thursday, December 8th. Piper Sandler boosted their price objective on Shoals Technologies Group from $28.00 to $30.00 and gave the stock a neutral rating in a research note on Tuesday, November 15th. Finally, Oppenheimer boosted their price objective on Shoals Technologies Group to $41.00 in a research note on Thursday, November 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $31.36.

Shoals Technologies Group Stock Performance

Shares of NASDAQ:SHLS opened at $28.04 on Tuesday. The company has a debt-to-equity ratio of 12.13, a current ratio of 2.60 and a quick ratio of 1.45. The business’s 50 day moving average price is $25.81 and its 200-day moving average price is $23.42. The firm has a market capitalization of $4.69 billion, a PE ratio of 314.70 and a beta of 2.14. Shoals Technologies Group has a 1 year low of $9.58 and a 1 year high of $32.43.

Shoals Technologies Group (NASDAQ:SHLSGet Rating) last issued its quarterly earnings results on Monday, November 14th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.07. The firm had revenue of $90.82 million for the quarter, compared to analyst estimates of $82.92 million. Shoals Technologies Group had a return on equity of 453.46% and a net margin of 4.70%. As a group, equities research analysts expect that Shoals Technologies Group will post 0.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Shoals Technologies Group

In related news, CEO Jason R. Whitaker sold 13,020 shares of the business’s stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $25.37, for a total value of $330,317.40. Following the sale, the chief executive officer now owns 563,567 shares in the company, valued at approximately $14,297,694.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Jason R. Whitaker sold 65,675 shares of the business’s stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $29.91, for a total value of $1,964,339.25. Following the sale, the chief executive officer now owns 602,639 shares in the company, valued at approximately $18,024,932.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jason R. Whitaker sold 13,020 shares of the business’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $25.37, for a total value of $330,317.40. Following the completion of the sale, the chief executive officer now owns 563,567 shares in the company, valued at approximately $14,297,694.79. The disclosure for this sale can be found here. Insiders have sold 643,363 shares of company stock worth $14,418,079 over the last quarter. 1.67% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Shoals Technologies Group

Several large investors have recently bought and sold shares of SHLS. William Blair Investment Management LLC purchased a new stake in Shoals Technologies Group during the 2nd quarter worth about $88,878,000. Encompass Capital Advisors LLC purchased a new stake in Shoals Technologies Group during the 2nd quarter worth about $52,245,000. Capital Research Global Investors increased its holdings in Shoals Technologies Group by 107.7% during the 1st quarter. Capital Research Global Investors now owns 3,466,612 shares of the company’s stock worth $59,071,000 after purchasing an additional 1,797,637 shares during the period. JPMorgan Chase & Co. increased its holdings in Shoals Technologies Group by 165.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,877,260 shares of the company’s stock worth $47,416,000 after purchasing an additional 1,791,661 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Shoals Technologies Group by 69.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 4,073,397 shares of the company’s stock worth $67,130,000 after purchasing an additional 1,670,238 shares during the period. Hedge funds and other institutional investors own 81.94% of the company’s stock.

Shoals Technologies Group Company Profile

(Get Rating)

Shoals Technologies Group, Inc provides electrical balance of system (EBOS) solutions for solar energy projects in the United States. It produces EBOS components, including cable assemblies, inline fuses, combiners, disconnects, recombiners, wireless monitoring systems, junction boxes, transition enclosures, splice boxes, wire management solutions, and IV curve benchmarking devices.

Further Reading

Analyst Recommendations for Shoals Technologies Group (NASDAQ:SHLS)

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