Shoals Technologies Group (NASDAQ:SHLS) Price Target Raised to $12.00 at Guggenheim

Shoals Technologies Group (NASDAQ:SHLS) had its price target upped by Guggenheim from $8.00 to $12.00 in a research note released on Tuesday morning,Benzinga reports. Guggenheim currently has a buy rating on the stock.

Other analysts also recently issued reports about the stock. Mizuho downgraded shares of Shoals Technologies Group from an “outperform” rating to a “neutral” rating and set a $7.00 target price for the company. in a research report on Monday, July 14th. The Goldman Sachs Group upped their price objective on shares of Shoals Technologies Group from $8.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Wells Fargo & Company raised their target price on Shoals Technologies Group from $6.00 to $10.00 and gave the company an “equal weight” rating in a report on Thursday, November 6th. Jefferies Financial Group boosted their price target on Shoals Technologies Group from $6.00 to $9.00 and gave the stock a “buy” rating in a research report on Monday, September 8th. Finally, Zacks Research upgraded Shoals Technologies Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $8.81.

Shoals Technologies Group Trading Down 4.9%

Shares of NASDAQ SHLS opened at $8.93 on Tuesday. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 44.65, a PEG ratio of 1.17 and a beta of 1.69. The business has a 50 day simple moving average of $8.67 and a 200 day simple moving average of $6.44. Shoals Technologies Group has a 52 week low of $2.71 and a 52 week high of $11.36. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.53 and a current ratio of 2.19.

Institutional Investors Weigh In On Shoals Technologies Group

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