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

Shoals Technologies Group, Inc. (NASDAQ:SHLS) has earned an average recommendation of “Moderate Buy” from the seventeen research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $9.7143.

Several research firms have issued reports on SHLS. Guggenheim reissued a “buy” rating on shares of Shoals Technologies Group in a research report on Friday, May 22nd. Wells Fargo & Company boosted their price objective on shares of Shoals Technologies Group from $9.00 to $10.00 and gave the company an “equal weight” rating in a research report on Thursday, June 11th. Citigroup boosted their price objective on shares of Shoals Technologies Group from $8.50 to $9.50 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Jefferies Financial Group lowered their price objective on shares of Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, March 11th. Finally, Weiss Ratings raised shares of Shoals Technologies Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, May 22nd.

Shoals Technologies Group Price Performance

Shoals Technologies Group stock opened at $9.86 on Friday. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 49.30, a price-to-earnings-growth ratio of 1.24 and a beta of 1.90. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.84 and a quick ratio of 1.07. Shoals Technologies Group has a 1 year low of $3.99 and a 1 year high of $13.18. The firm has a 50-day moving average of $9.54 and a two-hundred day moving average of $8.68.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. The company had revenue of $140.56 million during the quarter, compared to analysts’ expectations of $129.16 million. Shoals Technologies Group had a net margin of 6.27% and a return on equity of 10.03%. Shoals Technologies Group’s revenue for the quarter was up 74.4% on a year-over-year basis. On average, research analysts forecast that Shoals Technologies Group will post 0.34 earnings per share for the current year.

Insider Activity

In other Shoals Technologies Group news, insider Bobbie Lee King, Jr. sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $10.41, for a total value of $104,100.00. Following the completion of the sale, the insider directly owned 98,918 shares of the company’s stock, valued at $1,029,736.38. The trade was a 9.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Dominic Bardos sold 54,449 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $8.48, for a total transaction of $461,727.52. Following the completion of the sale, the chief financial officer owned 394,979 shares of the company’s stock, valued at approximately $3,349,421.92. This represents a 12.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.81% of the stock is owned by insiders.

Hedge Funds Weigh In On Shoals Technologies Group

Several institutional investors have recently bought and sold shares of SHLS. GAMMA Investing LLC raised its stake in Shoals Technologies Group by 57.7% in the fourth quarter. GAMMA Investing LLC now owns 3,756 shares of the company’s stock worth $32,000 after buying an additional 1,375 shares in the last quarter. KBC Group NV bought a new position in Shoals Technologies Group in the first quarter worth approximately $30,000. USA Financial Formulas bought a new position in Shoals Technologies Group in the fourth quarter worth approximately $49,000. PNC Financial Services Group Inc. raised its stake in Shoals Technologies Group by 378.0% in the first quarter. PNC Financial Services Group Inc. now owns 7,566 shares of the company’s stock worth $50,000 after buying an additional 5,983 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new position in Shoals Technologies Group in the fourth quarter worth approximately $85,000.

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.