Shoals Technologies Group, Inc. (NASDAQ:SHLS) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) have earned a consensus rating of “Moderate Buy” from the nineteen research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $9.4375.

A number of equities analysts have weighed in on the company. The Goldman Sachs Group upped their price target on Shoals Technologies Group from $8.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Needham & Company LLC initiated coverage on shares of Shoals Technologies Group in a research report on Wednesday, October 22nd. They set a “buy” rating and a $12.00 target price on the stock. Wells Fargo & Company raised their price target on shares of Shoals Technologies Group from $6.00 to $10.00 and gave the company an “equal weight” rating in a report on Thursday, November 6th. UBS Group lifted their price target on shares of Shoals Technologies Group from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $9.50 price objective (down previously from $11.00) on shares of Shoals Technologies Group in a report on Tuesday, December 16th.

Insider Activity

In other Shoals Technologies Group news, CFO Dominic Bardos sold 4,170 shares of the company’s stock in a transaction that occurred 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 $3,228,222.87. This represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Shoals Technologies Group

A number of institutional investors have recently made changes to their positions in SHLS. Nisa Investment Advisors LLC increased its holdings in shares of Shoals Technologies Group by 449.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,226 shares of the company’s stock worth $31,000 after acquiring an additional 5,910 shares during the period. GAMMA Investing LLC boosted its stake in Shoals Technologies Group by 57.7% during the 4th quarter. GAMMA Investing LLC now owns 3,756 shares of the company’s stock valued at $32,000 after purchasing an additional 1,375 shares during the period. USA Financial Formulas bought a new position in Shoals Technologies Group in the 4th quarter worth about $49,000. Savant Capital LLC acquired a new stake in shares of Shoals Technologies Group in the second quarter valued at approximately $50,000. Finally, Ethic Inc. bought a new stake in shares of Shoals Technologies Group during the second quarter valued at approximately $54,000.

Shoals Technologies Group Trading Up 0.5%

NASDAQ:SHLS opened at $9.27 on Tuesday. The business’s 50-day moving average is $8.68 and its two-hundred day moving average is $7.86. The firm has a market capitalization of $1.55 billion, a PE ratio of 46.35, a price-to-earnings-growth ratio of 0.78 and a beta of 1.70. Shoals Technologies Group has a 12 month low of $2.71 and a 12 month high of $11.36. 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 (NASDAQ:SHLS) last issued its earnings results on Tuesday, November 4th. The company reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12. The company had revenue of $135.80 million during the quarter, compared to the consensus estimate of $131.37 million. Shoals Technologies Group had a return on equity of 8.50% and a net margin of 7.66%. Research analysts predict that Shoals Technologies Group will post 0.29 earnings per share 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.