Shoals Technologies Group, Inc. (NASDAQ:SHLS) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shoals Technologies Group, Inc. (NASDAQ:SHLS) has been assigned a consensus recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $10.4615.

A number of research firms have recently commented on SHLS. Jefferies Financial Group increased their target price on shares of Shoals Technologies Group from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Guggenheim reaffirmed a “buy” rating on shares of Shoals Technologies Group in a report on Friday, May 22nd. Roth Capital reiterated a “buy” rating on shares of Shoals Technologies Group in a research report on Thursday, July 2nd. Weiss Ratings raised shares of Shoals Technologies Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, July 6th. Finally, JPMorgan Chase & Co. 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 report on Wednesday, May 6th.

Shoals Technologies Group Price Performance

Shoals Technologies Group stock opened at $9.39 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.07 and a current ratio of 1.84. Shoals Technologies Group has a 52 week low of $4.43 and a 52 week high of $13.18. The stock has a market capitalization of $1.57 billion, a P/E ratio of 46.95, a price-to-earnings-growth ratio of 1.14 and a beta of 1.90. The stock has a fifty day moving average of $10.37 and a 200-day moving average of $8.86.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.07 earnings per share for the quarter, beating 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 business had revenue of $140.56 million for the quarter, compared to analyst estimates of $129.16 million. The firm’s revenue for the quarter was up 74.4% compared to the same quarter last year. On average, sell-side analysts expect that Shoals Technologies Group will post 0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, 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 completion of the transaction, the chief financial officer directly owned 394,979 shares in the company, valued at approximately $3,349,421.92. This represents a 12.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bobbie Lee King, Jr. sold 10,000 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $10.41, for a total value of $104,100.00. Following the sale, the insider directly owned 98,918 shares in the company, valued at approximately $1,029,736.38. This trade represents a 9.18% decrease in their position. The SEC filing for this sale provides additional information. 0.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Shoals Technologies Group

A number of hedge funds have recently made changes to their positions in SHLS. Price T Rowe Associates Inc. MD grew its holdings in shares of Shoals Technologies Group by 151.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,753,784 shares of the company’s stock worth $108,410,000 after purchasing an additional 7,685,515 shares during the last quarter. First Trust Advisors LP boosted its position in Shoals Technologies Group by 1,493.0% during the 4th quarter. First Trust Advisors LP now owns 6,331,682 shares of the company’s stock worth $53,819,000 after buying an additional 5,934,223 shares during the period. Castle Hook Partners LP acquired a new stake in Shoals Technologies Group during the 4th quarter worth approximately $40,095,000. Amundi grew its holdings in Shoals Technologies Group by 175.2% during the 4th quarter. Amundi now owns 5,776,766 shares of the company’s stock worth $49,075,000 after acquiring an additional 3,677,713 shares during the last quarter. Finally, Peconic Partners LLC grew its holdings in 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 acquiring an additional 3,095,186 shares during the last quarter.

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.