Why Are Shoals (SHLS) Shares Soaring Today
Jefferies analyst Julian Dumoulin-Smith boosted the price target on the solar energy solutions provider to $7.20 from a previous $4.90. The upgrade was based on the view that certain regulatory restrictions should enhance Shoals' competitive position.
After the initial pop the shares cooled down to $6.21, up 3.9% from previous close.
Is now the time to buy Shoals? Access our full analysis report here, it's free.
Shoals's shares are extremely volatile and have had 58 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
Shoals is up 2.6% since the beginning of the year, but at $6.21 per share, it is still trading 12.1% below its 52-week high of $7.06 from July 2024. Investors who bought $1,000 worth of Shoals's shares at the IPO in January 2021 would now be looking at an investment worth $200.30.
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