Shoals Technologies Group (NASDAQ:SHLS) Hits New 12-Month High After Analyst Upgrade

Shoals Technologies Group, Inc. (NASDAQ:SHLS) shares reached a new 52-week high during trading on Thursday after Barclays upgraded the stock from an equal weight rating to an overweight rating. Barclays now has a $10.00 price target on the stock, up from their previous price target of $7.00. Shoals Technologies Group traded as high as $8.85 and last traded at $8.53, with a volume of 160853 shares trading hands. The stock had previously closed at $7.93.

Several other equities research analysts have also commented on the stock. UBS Group boosted their target price on shares of Shoals Technologies Group from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday. The Goldman Sachs Group boosted their price objective on shares of Shoals Technologies Group from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday, September 11th. Wall Street Zen cut shares of Shoals Technologies Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 17th. Guggenheim boosted their price target on Shoals Technologies Group from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Finally, Jefferies Financial Group upped their price target on Shoals Technologies Group from $6.00 to $9.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Fourteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $9.40.

Institutional Trading of Shoals Technologies Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its stake in shares of Shoals Technologies Group by 51.9% during the first quarter. Wellington Management Group LLP now owns 21,615,890 shares of the company’s stock valued at $71,765,000 after acquiring an additional 7,382,548 shares during the last quarter. Encompass Capital Advisors LLC purchased a new position in Shoals Technologies Group in the 2nd quarter valued at about $56,120,000. Peconic Partners LLC boosted 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 purchasing an additional 3,095,186 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Shoals Technologies Group by 5.8% during the first quarter. Invesco Ltd. now owns 6,791,182 shares of the company’s stock worth $22,547,000 after buying an additional 375,271 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Shoals Technologies Group by 3.6% in the second quarter. Geode Capital Management LLC now owns 4,213,350 shares of the company’s stock valued at $17,909,000 after buying an additional 146,628 shares during the last quarter.

Shoals Technologies Group Stock Up 12.4%

The firm’s 50 day moving average is $6.39 and its 200-day moving average is $5.14. The firm has a market cap of $1.49 billion, a PE ratio of 68.54, a P/E/G ratio of 0.97 and a beta of 1.65. The company has a quick ratio of 1.64, a current ratio of 2.34 and a debt-to-equity ratio of 0.23.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.02. Shoals Technologies Group had a return on equity of 7.57% and a net margin of 5.27%.The company had revenue of $110.84 million during the quarter, compared to the consensus estimate of $104.87 million. During the same period in the previous year, the firm posted $0.10 EPS. Shoals Technologies Group’s revenue was up 11.7% on a year-over-year basis. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities research analysts expect that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Shoals Technologies Group Company Profile

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.