Shoals Technologies Group, Inc. (NASDAQ:SHLS) Short Interest Update

Shoals Technologies Group, Inc. (NASDAQ:SHLS) was the target of a large decrease in short interest during the month of February. As of February 13th, there was short interest totaling 10,920,858 shares, a decrease of 14.5% from the January 29th total of 12,769,824 shares. Based on an average daily trading volume, of 4,092,264 shares, the short-interest ratio is currently 2.7 days. Currently, 6.6% of the shares of the company are sold short. Currently, 6.6% of the shares of the company are sold short. Based on an average daily trading volume, of 4,092,264 shares, the short-interest ratio is currently 2.7 days.

Shoals Technologies Group Price Performance

Shoals Technologies Group stock traded up $0.36 during trading hours on Wednesday, reaching $6.27. 800,146 shares of the stock were exchanged, compared to its average volume of 4,995,063. The company has a current ratio of 2.03, a quick ratio of 1.32 and a debt-to-equity ratio of 0.23. Shoals Technologies Group has a twelve month low of $2.71 and a twelve month high of $11.36. The company has a market cap of $1.05 billion, a P/E ratio of 31.35, a price-to-earnings-growth ratio of 0.72 and a beta of 1.77. The stock has a 50 day moving average of $9.14 and a two-hundred day moving average of $8.57.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The firm had revenue of $148.33 million for the quarter, compared to the consensus estimate of $144.52 million. Shoals Technologies Group had a return on equity of 9.10% and a net margin of 7.06%.The business’s revenue was up 38.6% on a year-over-year basis. During the same period last year, the company posted $0.08 EPS. Equities analysts expect that Shoals Technologies Group will post 0.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on SHLS shares. Jefferies Financial Group reiterated a “buy” rating and set a $10.00 target price on shares of Shoals Technologies Group in a research note on Wednesday, February 25th. Guggenheim lowered their price objective on Shoals Technologies Group from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Wall Street Zen cut shares of Shoals Technologies Group from a “buy” rating to a “hold” rating in a research report on Saturday. Wells Fargo & Company decreased their price target on shares of Shoals Technologies Group from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 25th. Finally, Citigroup lowered their price target on shares of Shoals Technologies Group from $11.00 to $8.50 and set a “neutral” rating on the stock in a research report on Thursday, February 26th. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.71.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Shoals Technologies Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC grew its position in Shoals Technologies Group by 449.1% in the second quarter. Nisa Investment Advisors LLC now owns 7,226 shares of the company’s stock valued at $31,000 after acquiring an additional 5,910 shares during the last quarter. GAMMA Investing LLC boosted its position in Shoals Technologies Group by 57.7% in the fourth quarter. GAMMA Investing LLC now owns 3,756 shares of the company’s stock valued at $32,000 after buying an additional 1,375 shares in the last quarter. USA Financial Formulas bought a new stake in shares of Shoals Technologies Group during the fourth quarter worth $49,000. Savant Capital LLC acquired a new position in shares of Shoals Technologies Group during the second quarter worth $50,000. Finally, State of Alaska Department of Revenue bought a new position in shares of Shoals Technologies Group in the 3rd quarter valued at $54,000.

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.