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

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) have been given an average recommendation of “Moderate Buy” by the seventeen analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $9.6429.

Several analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada lowered their target price on shares of Shoals Technologies Group from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Jefferies Financial Group lowered their target price on shares of Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. TD Cowen restated a “buy” rating on shares of Shoals Technologies Group in a research report on Tuesday, February 24th. Finally, Guggenheim restated a “buy” rating on shares of Shoals Technologies Group in a research report on Friday, May 22nd.

Shoals Technologies Group Stock Performance

NASDAQ SHLS opened at $12.45 on Monday. Shoals Technologies Group has a 1 year low of $3.99 and a 1 year high of $13.18. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.84 and a quick ratio of 1.07. The stock has a market capitalization of $2.08 billion, a PE ratio of 62.25, a P/E/G ratio of 1.51 and a beta of 1.89. The company’s 50 day simple moving average is $8.02 and its two-hundred day simple moving average is $8.33.

Shoals Technologies Group (NASDAQ:SHLS) last posted its earnings results on Tuesday, May 5th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. Shoals Technologies Group had a net margin of 6.27% and a return on equity of 10.03%. The business had revenue of $140.56 million for the quarter, compared to analysts’ expectations of $129.16 million. Shoals Technologies Group’s quarterly revenue was up 74.4% compared to the same quarter last year. Analysts predict that Shoals Technologies Group will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Shoals Technologies Group

In other news, CFO Dominic Bardos sold 54,449 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $8.48, for a total transaction of $461,727.52. Following the sale, the chief financial officer owned 394,979 shares in the company, valued at approximately $3,349,421.92. This trade represents a 12.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.81% of the company’s stock.

Institutional Trading of Shoals Technologies Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. KBC Group NV purchased a new position in Shoals Technologies Group in the 1st quarter worth $30,000. GAMMA Investing LLC raised its position in Shoals Technologies Group by 57.7% in the 4th quarter. GAMMA Investing LLC now owns 3,756 shares of the company’s stock worth $32,000 after purchasing an additional 1,375 shares during the period. USA Financial Formulas purchased a new position in Shoals Technologies Group in the 4th quarter worth $49,000. PNC Financial Services Group Inc. raised its position in Shoals Technologies Group by 378.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,566 shares of the company’s stock worth $50,000 after purchasing an additional 5,983 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Shoals Technologies Group in the 1st quarter worth $57,000.

About Shoals Technologies Group

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.