Shoals Technologies Group, Inc. (NASDAQ:SHLS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) have been assigned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $10.3077.

A number of brokerages have recently commented on SHLS. Weiss Ratings raised shares of Shoals Technologies Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, July 6th. UBS Group upped their target price on shares of Shoals Technologies Group from $11.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Barclays raised their target price on shares of Shoals Technologies Group from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Roth Capital reiterated a “buy” rating on shares of Shoals Technologies Group in a report on Thursday, July 2nd. Finally, Jefferies Financial Group boosted their price target on Shoals Technologies Group from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th.

Shoals Technologies Group Stock Down 6.6%

SHLS stock opened at $9.62 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.84 and a debt-to-equity ratio of 0.30. The business has a 50 day moving average price of $10.32 and a two-hundred day moving average price of $8.82. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 48.10, a P/E/G ratio of 1.25 and a beta of 1.90. Shoals Technologies Group has a twelve month low of $4.43 and a twelve month high of $13.18.

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

Insider Transactions at Shoals Technologies Group

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

Institutional Trading of Shoals Technologies Group

Several hedge funds and other institutional investors have recently bought and sold shares of SHLS. Royal Bank of Canada grew its position in shares of Shoals Technologies Group by 292.5% during the 1st quarter. Royal Bank of Canada now owns 106,531 shares of the company’s stock worth $353,000 after purchasing an additional 79,392 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Shoals Technologies Group by 184.7% in the first quarter. AQR Capital Management LLC now owns 922,358 shares of the company’s stock valued at $2,975,000 after buying an additional 598,407 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Shoals Technologies Group during the first quarter worth approximately $57,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Shoals Technologies Group by 8.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 517,507 shares of the company’s stock worth $1,718,000 after buying an additional 38,983 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Shoals Technologies Group by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 195,828 shares of the company’s stock worth $832,000 after acquiring an additional 3,601 shares during the period.

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.