Cantor Fitzgerald Analysts Raise Earnings Estimates for SHLS

Shoals Technologies Group, Inc. (NASDAQ:SHLS) – Investment analysts at Cantor Fitzgerald lifted their FY2025 earnings per share estimates for shares of Shoals Technologies Group in a report issued on Wednesday, May 7th. Cantor Fitzgerald analyst D. Soderberg now forecasts that the company will post earnings of $0.34 per share for the year, up from their prior estimate of $0.33. The consensus estimate for Shoals Technologies Group’s current full-year earnings is $0.29 per share.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. The firm had revenue of $80.36 million for the quarter, compared to analysts’ expectations of $74.66 million. During the same period last year, the firm earned $0.07 EPS. Shoals Technologies Group’s revenue was down 11.2% compared to the same quarter last year.

SHLS has been the subject of several other research reports. Royal Bank of Canada dropped their price target on Shoals Technologies Group from $9.00 to $7.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Guggenheim boosted their target price on shares of Shoals Technologies Group from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. decreased their price target on shares of Shoals Technologies Group from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. The Goldman Sachs Group boosted their price objective on shares of Shoals Technologies Group from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Piper Sandler decreased their target price on shares of Shoals Technologies Group from $8.00 to $6.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $8.77.

Shoals Technologies Group Trading Up 5.2 %

Shares of SHLS opened at $5.07 on Friday. Shoals Technologies Group has a 1-year low of $2.71 and a 1-year high of $8.52. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.08 and a quick ratio of 1.36. The firm has a 50 day simple moving average of $3.45 and a 200-day simple moving average of $4.37. The stock has a market cap of $846.66 million, a price-to-earnings ratio of 25.35, a price-to-earnings-growth ratio of 0.52 and a beta of 1.52.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SHLS. Empirical Asset Management LLC acquired a new stake in shares of Shoals Technologies Group in the fourth quarter valued at about $59,000. Cerity Partners LLC acquired a new stake in Shoals Technologies Group in the first quarter valued at approximately $43,000. MQS Management LLC purchased a new stake in shares of Shoals Technologies Group during the first quarter valued at approximately $43,000. American Trust acquired a new position in shares of Shoals Technologies Group during the fourth quarter worth $72,000. Finally, 49 Wealth Management LLC acquired a new stake in Shoals Technologies Group during the 4th quarter valued at $74,000.

Insider Buying and Selling at Shoals Technologies Group

In other news, CEO Brandon Moss sold 21,700 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $3.07, for a total value of $66,619.00. Following the transaction, the chief executive officer now owns 1,051,303 shares of the company’s stock, valued at approximately $3,227,500.21. This trade represents a 2.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 40,575 shares of company stock valued at $123,957 over the last ninety days. Corporate insiders own 1.67% of the company’s stock.

About Shoals Technologies Group

Shoals Technologies Group, Inc provides electrical balance of system (EBOS) solutions and components for solar, battery energy, and electric vehicle (EV) charging applications in the United States and internationally. The company designs, manufactures, and sells system solutions for both homerun and combine-as-you-go wiring architectures, as well as offers technical support services.