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

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) have been given an average rating of “Moderate Buy” by the eighteen brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $9.40.

Several equities research analysts have recently commented on the stock. UBS Group boosted their price target on shares of Shoals Technologies Group from $9.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Zacks Research downgraded shares of Shoals Technologies Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Morgan Stanley reaffirmed an “equal weight” rating and set a $9.50 target price (down previously from $11.00) on shares of Shoals Technologies Group in a research report on Tuesday, December 16th. JPMorgan Chase & Co. lifted their price target on Shoals Technologies Group from $9.00 to $11.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Finally, The Goldman Sachs Group upped their price objective on Shoals Technologies Group from $8.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th.

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 shares were sold at an average price of $7.83, for a total value of $32,651.10. Following the sale, the chief financial officer directly owned 412,289 shares in the company, valued at approximately $3,228,222.87. This trade represents a 1.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.67% of the company’s stock.

Institutional Investors Weigh In On Shoals Technologies Group

Several institutional investors have recently bought and sold shares of the company. Royal Bank of Canada increased its position in shares of Shoals Technologies Group by 292.5% during the first 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 position in shares of Shoals Technologies Group by 184.7% in the 1st quarter. AQR Capital Management LLC now owns 922,358 shares of the company’s stock worth $2,975,000 after purchasing an additional 598,407 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Shoals Technologies Group during the 1st quarter worth $57,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Shoals Technologies Group by 8.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 517,507 shares of the company’s stock valued at $1,718,000 after buying an additional 38,983 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in Shoals Technologies Group by 42.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 27,987 shares of the company’s stock valued at $119,000 after buying an additional 8,307 shares in the last quarter.

Shoals Technologies Group Trading Down 1.3%

Shares of NASDAQ SHLS opened at $9.32 on Tuesday. Shoals Technologies Group has a twelve month low of $2.71 and a twelve month high of $11.36. The firm has a market cap of $1.56 billion, a PE ratio of 46.60, a price-to-earnings-growth ratio of 0.80 and a beta of 1.70. The business has a fifty day simple moving average of $8.87 and a two-hundred day simple moving average of $8.00. The company has a quick ratio of 1.53, a current ratio of 2.19 and a debt-to-equity ratio of 0.21.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. The firm had revenue of $135.80 million for the quarter, compared to analyst estimates of $131.37 million. Shoals Technologies Group had a return on equity of 8.50% and a net margin of 7.66%. Analysts expect that Shoals Technologies Group will post 0.29 earnings per share for the current fiscal year.

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.