Jefferies Financial Group Has Lowered Expectations for Shoals Technologies Group (NASDAQ:SHLS) Stock Price

Shoals Technologies Group (NASDAQ:SHLS) had its target price lowered by analysts at Jefferies Financial Group from $10.00 to $8.00 in a report released on Wednesday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective would indicate a potential upside of 30.72% from the company’s previous close.

SHLS has been the subject of a number of other reports. Barclays decreased their price objective on Shoals Technologies Group from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Wells Fargo & Company decreased their price target on shares of Shoals Technologies Group from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Wednesday, February 25th. Zacks Research downgraded shares of Shoals Technologies Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Guggenheim dropped their price objective on shares of Shoals Technologies Group from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Finally, Needham & Company LLC cut their target price on shares of Shoals Technologies Group from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Ten research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Shoals Technologies Group currently has a consensus rating of “Moderate Buy” and an average target price of $9.57.

Shoals Technologies Group Trading Down 2.4%

NASDAQ SHLS opened at $6.12 on Wednesday. The firm’s 50 day moving average price is $8.75 and its two-hundred day moving average price is $8.53. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.32 and a current ratio of 2.03. Shoals Technologies Group has a twelve month low of $2.92 and a twelve month high of $11.36. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 30.60, a PEG ratio of 0.89 and a beta of 1.77.

Shoals Technologies Group (NASDAQ:SHLS) last released its earnings results on Tuesday, February 24th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). Shoals Technologies Group had a net margin of 7.06% and a return on equity of 9.10%. The business had revenue of $148.33 million during the quarter, compared to analysts’ expectations of $144.52 million. During the same quarter in the previous year, the company earned $0.08 EPS. Shoals Technologies Group’s revenue for the quarter was up 38.6% on a year-over-year basis. Equities analysts anticipate that Shoals Technologies Group will post 0.29 EPS for the current year.

Hedge Funds Weigh In On Shoals Technologies Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its stake in Shoals Technologies Group by 57.7% in the fourth quarter. GAMMA Investing LLC now owns 3,756 shares of the company’s stock valued at $32,000 after acquiring an additional 1,375 shares during the last quarter. USA Financial Formulas acquired a new position in shares of Shoals Technologies Group during the 4th quarter worth $49,000. Savant Capital LLC bought a new position in shares of Shoals Technologies Group during the 2nd quarter valued at $50,000. State of Alaska Department of Revenue bought a new position in shares of Shoals Technologies Group during the 3rd quarter valued at $54,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Shoals Technologies Group in the 1st quarter valued at $57,000.

Shoals Technologies Group Company Profile

Shoals Technologies Group, Inc is a leading provider of electrical balance-of-system (BOS) solutions for the solar energy industry. The company designs, engineers and manufactures a comprehensive portfolio of products, including junction boxes, combiner boxes, cable assemblies, power distribution units and monitoring systems. These components are critical to interconnecting photovoltaic modules, optimizing energy output and ensuring safe, reliable performance across solar installations.

Founded in 1996 and headquartered in Portland, Tennessee, Shoals has grown its manufacturing and operations footprint to serve customers around the globe.