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

Shoals Technologies Group, Inc. (NASDAQ:SHLS) has been assigned a consensus rating of “Moderate Buy” from the seventeen research firms that are currently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $9.5714.

Several equities research analysts have recently weighed in on SHLS shares. Wall Street Zen downgraded shares of Shoals Technologies Group from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Roth Mkm decreased their target price on shares of Shoals Technologies Group from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Guggenheim decreased their target price on shares of Shoals Technologies Group from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Needham & Company LLC decreased their target price on shares of Shoals Technologies Group from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Finally, Morgan Stanley decreased their target price on shares of Shoals Technologies Group from $9.50 to $8.50 and set an “equal weight” rating for the company in a research note on Wednesday, February 25th.

Shoals Technologies Group Stock Performance

Shares of SHLS stock opened at $6.98 on Friday. The company has a current ratio of 2.03, a quick ratio of 1.32 and a debt-to-equity ratio of 0.23. The firm has a fifty day moving average price of $7.58 and a 200 day moving average price of $8.48. The company has a market cap of $1.17 billion, a P/E ratio of 34.90, a PEG ratio of 0.97 and a beta of 1.64. Shoals Technologies Group has a 12 month low of $2.92 and a 12 month high of $11.36.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings data on Tuesday, February 24th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.04). Shoals Technologies Group had a net margin of 7.06% and a return on equity of 9.10%. The company had revenue of $148.33 million during the quarter, compared to analyst estimates of $144.52 million. During the same quarter in the prior year, the company earned $0.08 EPS. The business’s revenue was up 38.6% on a year-over-year basis. Sell-side analysts predict that Shoals Technologies Group will post 0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shoals Technologies Group

Hedge funds have recently made changes to their positions in the business. Hsbc Holdings PLC raised its holdings in Shoals Technologies Group by 45.4% during the fourth quarter. Hsbc Holdings PLC now owns 17,429 shares of the company’s stock worth $148,000 after purchasing an additional 5,440 shares in the last quarter. Invesco Ltd. raised its holdings in Shoals Technologies Group by 5.8% during the fourth quarter. Invesco Ltd. now owns 5,877,652 shares of the company’s stock worth $49,960,000 after purchasing an additional 323,831 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in Shoals Technologies Group by 20.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 13,670 shares of the company’s stock worth $116,000 after purchasing an additional 2,304 shares in the last quarter. nVerses Capital LLC purchased a new position in Shoals Technologies Group during the fourth quarter worth about $127,000. Finally, Polymer Capital Management US LLC purchased a new position in Shoals Technologies Group during the fourth quarter worth about $201,000.

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.