Shoals Technologies Group, Inc. (NASDAQ:SHLS) Receives Average Recommendation of “Hold” from Brokerages

Shoals Technologies Group, Inc. (NASDAQ:SHLS) has received a consensus rating of “Hold” from the twenty-two brokerages that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $8.7632.

A number of research firms recently commented on SHLS. Barclays upgraded Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $7.00 to $10.00 in a research report on Thursday, October 2nd. Wells Fargo & Company upped their price target on shares of Shoals Technologies Group from $6.00 to $10.00 and gave the company an “equal weight” rating in a research report on Thursday, November 6th. Roth Capital reissued a “buy” rating and issued a $15.00 price objective (up previously from $10.00) on shares of Shoals Technologies Group in a report on Wednesday, November 5th. The Goldman Sachs Group boosted their target price on shares of Shoals Technologies Group from $8.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Finally, Zacks Research downgraded shares of Shoals Technologies Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th.

Insider Buying and Selling

In related news, CFO Dominic Bardos sold 4,170 shares of Shoals Technologies Group stock in a transaction on Friday, December 5th. The stock was sold at an average price of $7.83, for a total transaction of $32,651.10. Following the transaction, the chief financial officer directly owned 412,289 shares in the company, valued at approximately $3,228,222.87. The trade was a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.67% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SHLS. Comerica Bank lifted its holdings in shares of Shoals Technologies Group by 23.6% in the first quarter. Comerica Bank now owns 200,976 shares of the company’s stock worth $667,000 after buying an additional 38,328 shares in the last quarter. Ieq Capital LLC bought a new stake in Shoals Technologies Group in the 1st quarter valued at $235,000. Vident Advisory LLC purchased a new stake in Shoals Technologies Group in the 1st quarter worth $134,000. Royal Bank of Canada boosted its holdings in shares of Shoals Technologies Group by 292.5% during the 1st quarter. Royal Bank of Canada now owns 106,531 shares of the company’s stock valued at $353,000 after purchasing an additional 79,392 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of Shoals Technologies Group by 1,741.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 568,862 shares of the company’s stock valued at $1,889,000 after purchasing an additional 537,962 shares during the last quarter.

Shoals Technologies Group Stock Down 0.8%

Shares of Shoals Technologies Group stock opened at $8.50 on Friday. Shoals Technologies Group has a twelve month low of $2.71 and a twelve month high of $11.36. The company has a quick ratio of 1.53, a current ratio of 2.19 and a debt-to-equity ratio of 0.21. The company’s 50 day moving average is $8.80 and its 200 day moving average is $7.37. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 42.50, a price-to-earnings-growth ratio of 1.06 and a beta of 1.70.

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