Shoals Technologies Group (NASDAQ:SHLS) Price Target Raised to $10.00

Shoals Technologies Group (NASDAQ:SHLS) had its price objective raised by Wells Fargo & Company from $6.00 to $10.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an equal weight rating on the stock.

SHLS has been the subject of a number of other reports. UBS Group raised their target price on Shoals Technologies Group from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday. Weiss Ratings restated a “hold (c)” rating on shares of Shoals Technologies Group in a research report on Tuesday, October 14th. Morgan Stanley boosted their target price on shares of Shoals Technologies Group from $7.00 to $11.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Wall Street Zen lowered shares of Shoals Technologies Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 17th. Finally, The Goldman Sachs Group raised their price target on shares of Shoals Technologies Group from $8.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday. One investment 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 given a Sell rating to the stock. Based on data from MarketBeat.com, Shoals Technologies Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.62.

Shoals Technologies Group Trading Down 0.8%

SHLS stock opened at $9.08 on Thursday. The business has a fifty day moving average price of $8.57 and a 200 day moving average price of $6.34. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.19 and a quick ratio of 1.64. Shoals Technologies Group has a fifty-two week low of $2.71 and a fifty-two week high of $11.36. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 45.40, a P/E/G ratio of 1.07 and a beta of 1.69.

Hedge Funds Weigh In On Shoals Technologies Group

Several large investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Shoals Technologies Group in the 1st quarter valued at $65,000. Comerica Bank increased its holdings in Shoals Technologies Group by 23.6% in the first quarter. Comerica Bank now owns 200,976 shares of the company’s stock valued at $667,000 after purchasing an additional 38,328 shares during the last quarter. American Century Companies Inc. increased its holdings in Shoals Technologies Group by 617.2% in the first quarter. American Century Companies Inc. now owns 1,206,172 shares of the company’s stock valued at $4,004,000 after purchasing an additional 1,037,997 shares during the last quarter. CenterBook Partners LP acquired a new position in Shoals Technologies Group in the first quarter valued at about $12,489,000. Finally, XTX Topco Ltd boosted its holdings in Shoals Technologies Group by 200.9% during the first quarter. XTX Topco Ltd now owns 129,178 shares of the company’s stock worth $429,000 after buying an additional 86,249 shares during the last quarter.

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.