Shoals Technologies Group, Inc. (NASDAQ:SHLS) Given Average Rating of “Hold” by Brokerages

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) have earned an average recommendation of “Hold” from the twenty-two ratings firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $8.7632.

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group upped their price target on shares of Shoals Technologies Group from $6.00 to $9.00 and gave the company a “buy” rating in a research note on Monday, September 8th. UBS Group boosted their target price on shares of Shoals Technologies Group from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Shoals Technologies Group in a report on Tuesday, October 14th. Barclays upgraded Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $7.00 to $10.00 in a research report on Thursday, October 2nd. Finally, Morgan Stanley reissued an “equal weight” rating and set a $9.50 price objective (down from $11.00) on shares of Shoals Technologies Group in a research note on Tuesday, December 16th.

Insider Buying and Selling at Shoals Technologies Group

In related news, CFO Dominic Bardos sold 4,170 shares of the stock in a transaction on Friday, December 5th. The stock was sold at an average price of $7.83, for a total transaction of $32,651.10. Following the sale, the chief financial officer owned 412,289 shares in the company, valued at approximately $3,228,222.87. This represents a 1.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.67% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its stake in shares of Shoals Technologies Group by 449.1% in the second quarter. Nisa Investment Advisors LLC now owns 7,226 shares of the company’s stock valued at $31,000 after acquiring an additional 5,910 shares during the period. Savant Capital LLC purchased a new stake in Shoals Technologies Group in the 2nd quarter worth about $50,000. Ethic Inc. bought a new stake in Shoals Technologies Group in the second quarter worth about $54,000. State of Alaska Department of Revenue bought a new stake in Shoals Technologies Group in the third quarter worth about $54,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Shoals Technologies Group during the first quarter valued at approximately $57,000.

Shoals Technologies Group Stock Performance

NASDAQ SHLS opened at $8.50 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.19 and a quick ratio of 1.53. Shoals Technologies Group has a 1-year low of $2.71 and a 1-year high of $11.36. The business has a 50 day simple moving average of $8.80 and a two-hundred day simple moving average of $7.37. The stock has a market capitalization of $1.42 billion, a PE ratio of 42.50, a P/E/G ratio of 1.06 and a beta of 1.70.

Shoals Technologies Group (NASDAQ:SHLS) last posted its earnings results on Tuesday, November 4th. The company reported $0.12 EPS for the quarter, meeting analysts’ consensus estimates of $0.12. Shoals Technologies Group had a return on equity of 8.50% and a net margin of 7.66%.The firm had revenue of $135.80 million during the quarter, compared to the consensus estimate of $131.37 million. On average, research analysts predict that Shoals Technologies Group will post 0.29 EPS for the current fiscal year.

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.