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

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) have been assigned an average rating of “Moderate Buy” from the seventeen brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $9.40.

A number of analysts have commented on the company. Zacks Research lowered Shoals Technologies Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Shoals Technologies Group in a report on Friday, January 9th. Guggenheim upped their target price on shares of Shoals Technologies Group from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Shoals Technologies Group in a report on Monday, February 9th. Finally, Wells Fargo & Company boosted their price objective on shares of Shoals Technologies Group from $6.00 to $10.00 and gave the company an “equal weight” rating in a report on Thursday, November 6th.

Insiders Place Their Bets

In other news, CFO Dominic Bardos sold 4,170 shares of the 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 of the company’s stock, valued at $3,228,222.87. This represents a 1.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.67% of the company’s stock.

Institutional Trading of Shoals Technologies Group

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada increased its holdings in Shoals Technologies Group by 292.5% in the 1st quarter. Royal Bank of Canada now owns 106,531 shares of the company’s stock worth $353,000 after acquiring an additional 79,392 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Shoals Technologies Group by 184.7% in the first 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 bought a new stake in shares of Shoals Technologies Group during the 1st quarter valued at $57,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of 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 purchasing an additional 38,983 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of Shoals Technologies Group by 43.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,569 shares of the company’s stock valued at $62,000 after buying an additional 4,412 shares in the last quarter.

Shoals Technologies Group Trading Up 4.1%

Shares of NASDAQ SHLS opened at $10.61 on Friday. The firm’s 50 day moving average price is $9.42 and its 200-day moving average price is $8.42. Shoals Technologies Group has a 52-week low of $2.71 and a 52-week high of $11.36. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.53 and a current ratio of 2.19. The company has a market cap of $1.78 billion, a PE ratio of 53.05, a P/E/G ratio of 0.86 and a beta of 1.70.

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.