Shoals Technologies Group (NASDAQ:SHLS) Releases Earnings Results, Misses Expectations By $0.04 EPS

Shoals Technologies Group (NASDAQ:SHLS) released its quarterly earnings results on Tuesday. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04), FiscalAI reports. Shoals Technologies Group had a return on equity of 8.50% and a net margin of 7.66%.The business had revenue of $148.33 million for the quarter, compared to analyst estimates of $144.52 million. During the same period in the prior year, the business earned $0.08 EPS. The company’s revenue for the quarter was up 38.6% compared to the same quarter last year.

Shoals Technologies Group Stock Down 6.7%

Shares of SHLS stock opened at $9.90 on Tuesday. The firm’s fifty day moving average price is $9.45 and its two-hundred day moving average price is $8.51. The company has a current ratio of 2.19, a quick ratio of 1.53 and a debt-to-equity ratio of 0.21. Shoals Technologies Group has a 1 year low of $2.71 and a 1 year high of $11.36. The firm has a market capitalization of $1.66 billion, a P/E ratio of 49.50, a PEG ratio of 0.90 and a beta of 1.70.

Insider Activity at Shoals Technologies Group

In other news, CFO Dominic Bardos sold 4,170 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $7.83, for a total value of $32,651.10. Following the completion of the transaction, the chief financial officer owned 412,289 shares in the company, valued at $3,228,222.87. This trade represents a 1.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SHLS. Price T Rowe Associates Inc. MD raised its stake in Shoals Technologies Group by 151.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,753,784 shares of the company’s stock valued at $108,410,000 after acquiring an additional 7,685,515 shares during the period. First Trust Advisors LP increased its holdings in shares of Shoals Technologies Group by 1,493.0% in the fourth quarter. First Trust Advisors LP now owns 6,331,682 shares of the company’s stock valued at $53,819,000 after purchasing an additional 5,934,223 shares during the last quarter. Amundi raised its position in shares of Shoals Technologies Group by 175.2% in the fourth quarter. Amundi now owns 5,776,766 shares of the company’s stock valued at $49,075,000 after purchasing an additional 3,677,713 shares during the period. Peconic Partners LLC lifted its stake in shares of Shoals Technologies Group by 79.8% during the 2nd quarter. Peconic Partners LLC now owns 6,975,186 shares of the company’s stock worth $29,645,000 after buying an additional 3,095,186 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Shoals Technologies Group by 1,110.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,687,082 shares of the company’s stock worth $7,170,000 after buying an additional 1,547,651 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts have commented on SHLS shares. Guggenheim raised their target price on shares of Shoals Technologies Group from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Roth Mkm reissued a “buy” rating and set a $15.00 price objective (up previously from $10.00) on shares of Shoals Technologies Group in a research report on Wednesday, November 5th. Morgan Stanley restated an “equal weight” rating and set a $9.50 price objective (down from $11.00) on shares of Shoals Technologies Group in a report on Tuesday, December 16th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Shoals Technologies Group in a research report on Monday, February 9th. Finally, Zacks Research cut Shoals Technologies Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Ten research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Shoals Technologies Group presently has an average rating of “Moderate Buy” and a consensus price target of $9.40.

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.