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

Shoals Technologies Group, Inc. (NASDAQ:SHLS) has earned an average recommendation of “Moderate Buy” from the nineteen ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $9.4375.

A number of equities research analysts have commented on SHLS shares. Needham & Company LLC started coverage on Shoals Technologies Group in a report on Wednesday, October 22nd. They set a “buy” rating and a $12.00 target price on the stock. Roth Mkm restated a “buy” rating and issued a $15.00 price objective (up from $10.00) on shares of Shoals Technologies Group in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Shoals Technologies Group in a research note on Friday, January 9th. The Goldman Sachs Group lifted their price objective on Shoals Technologies Group from $8.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $9.50 target price (down from $11.00) on shares of Shoals Technologies Group in a report on Tuesday, December 16th.

Insider Buying and Selling at Shoals Technologies Group

In related news, CFO Dominic Bardos sold 4,170 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $7.83, for a total transaction of $32,651.10. Following the transaction, the chief financial officer owned 412,289 shares of the company’s stock, valued at approximately $3,228,222.87. This represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SHLS. Financial Enhancement Group LLC lifted its stake in shares of Shoals Technologies Group by 6.5% in the 4th quarter. Financial Enhancement Group LLC now owns 119,562 shares of the company’s stock valued at $1,082,000 after purchasing an additional 7,324 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Shoals Technologies Group in the fourth quarter valued at approximately $424,000. Trium Capital LLP lifted its position in Shoals Technologies Group by 24.2% during the fourth quarter. Trium Capital LLP now owns 108,794 shares of the company’s stock valued at $925,000 after buying an additional 21,175 shares in the last quarter. Cidel Asset Management Inc. lifted its position in Shoals Technologies Group by 6.4% during the fourth quarter. Cidel Asset Management Inc. now owns 107,906 shares of the company’s stock valued at $917,000 after buying an additional 6,509 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in Shoals Technologies Group by 85.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 108,838 shares of the company’s stock worth $925,000 after buying an additional 50,001 shares during the period.

Shoals Technologies Group Stock Performance

NASDAQ:SHLS opened at $9.27 on Tuesday. The company has a current ratio of 2.19, a quick ratio of 1.53 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $1.55 billion, a P/E ratio of 46.35, a price-to-earnings-growth ratio of 0.78 and a beta of 1.70. The firm has a 50-day moving average price of $8.68 and a two-hundred day moving average price of $7.86. Shoals Technologies Group has a twelve month low of $2.71 and a twelve month high of $11.36.

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

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.