Mizuho Increases Shoals Technologies Group (NASDAQ:SHLS) Price Target to $7.00

Shoals Technologies Group (NASDAQ:SHLS) had its price target increased by Mizuho from $6.00 to $7.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s target price would suggest a potential upside of 43.74% from the stock’s previous close.

A number of other brokerages have also recently weighed in on SHLS. Citigroup lifted their price target on shares of Shoals Technologies Group from $4.50 to $5.50 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. BNP Paribas Exane cut shares of Shoals Technologies Group from a “neutral” rating to an “underperform” rating and set a $4.00 target price on the stock. in a research report on Thursday, May 15th. Wolfe Research initiated coverage on shares of Shoals Technologies Group in a research report on Tuesday, February 18th. They set a “peer perform” rating on the stock. UBS Group reduced their target price on shares of Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, Royal Bank of Canada reduced their target price on shares of Shoals Technologies Group from $9.00 to $7.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.45.

Shoals Technologies Group Trading Up 6.8%

Shares of SHLS stock opened at $4.87 on Monday. The stock has a market cap of $814.14 million, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 0.52 and a beta of 1.52. The company has a quick ratio of 1.36, a current ratio of 2.08 and a debt-to-equity ratio of 0.26. Shoals Technologies Group has a fifty-two week low of $2.71 and a fifty-two week high of $7.96. The firm’s 50 day moving average price is $4.02 and its two-hundred day moving average price is $4.31.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The business had revenue of $80.36 million for the quarter, compared to analyst estimates of $74.66 million. Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The company’s quarterly revenue was down 11.2% on a year-over-year basis. During the same period last year, the firm earned $0.07 earnings per share. On average, analysts anticipate that Shoals Technologies Group will post 0.29 EPS for the current year.

Hedge Funds Weigh In On Shoals Technologies Group

A number of large investors have recently made changes to their positions in SHLS. MQS Management LLC acquired a new position in shares of Shoals Technologies Group in the 1st quarter valued at about $43,000. Cerity Partners LLC acquired a new position in shares of Shoals Technologies Group in the 1st quarter valued at about $43,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Shoals Technologies Group in the 1st quarter valued at about $44,000. Virtu Financial LLC acquired a new position in shares of Shoals Technologies Group in the 1st quarter valued at about $46,000. Finally, FORA Capital LLC acquired a new position in shares of Shoals Technologies Group in the 1st quarter valued at about $51,000.

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.