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

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) have been given an average rating of “Moderate Buy” by the sixteen research firms that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $10.3077.

SHLS has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $12.00 price objective on shares of Shoals Technologies Group in a report on Wednesday, May 6th. UBS Group increased their target price on Shoals Technologies Group from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Barclays raised their target price on shares of Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Roth Capital reiterated a “buy” rating on shares of Shoals Technologies Group in a report on Thursday, July 2nd. Finally, Jefferies Financial Group increased their price objective on shares of Shoals Technologies Group from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th.

Shoals Technologies Group Price Performance

Shares of SHLS stock opened at $9.62 on Tuesday. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 48.10, a price-to-earnings-growth ratio of 1.25 and a beta of 1.90. Shoals Technologies Group has a 12-month low of $4.43 and a 12-month high of $13.18. The company has a quick ratio of 1.07, a current ratio of 1.84 and a debt-to-equity ratio of 0.30. The firm has a fifty day moving average of $10.32 and a 200-day moving average of $8.82.

Shoals Technologies Group (NASDAQ:SHLS) last posted its earnings results on Tuesday, May 5th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. Shoals Technologies Group had a return on equity of 10.03% and a net margin of 6.27%.The firm had revenue of $140.56 million for the quarter, compared to analyst estimates of $129.16 million. The firm’s quarterly revenue was up 74.4% on a year-over-year basis. On average, equities research analysts forecast that Shoals Technologies Group will post 0.34 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Bobbie Lee King, Jr. sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $10.41, for a total value of $104,100.00. Following the completion of the transaction, the insider directly owned 98,918 shares of the company’s stock, valued at approximately $1,029,736.38. This represents a 9.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dominic Bardos sold 54,449 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $8.48, for a total value of $461,727.52. Following the transaction, the chief financial officer owned 394,979 shares of the company’s stock, valued at approximately $3,349,421.92. This trade represents a 12.12% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Shoals Technologies Group

A number of large investors have recently bought and sold shares of the company. Hussman Strategic Advisors Inc. grew its position in Shoals Technologies Group by 140.0% in the fourth quarter. Hussman Strategic Advisors Inc. now owns 252,000 shares of the company’s stock valued at $2,142,000 after purchasing an additional 147,000 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Shoals Technologies Group by 148.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 414,545 shares of the company’s stock valued at $3,524,000 after buying an additional 247,721 shares during the last quarter. Telemark Asset Management LLC lifted its position in Shoals Technologies Group by 50.0% during the 4th quarter. Telemark Asset Management LLC now owns 1,500,000 shares of the company’s stock worth $12,750,000 after buying an additional 500,000 shares in the last quarter. Tudor Investment Corp ET AL lifted its position in Shoals Technologies Group by 83.2% during the 3rd quarter. Tudor Investment Corp ET AL now owns 1,025,812 shares of the company’s stock worth $7,601,000 after buying an additional 465,968 shares in the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of Shoals Technologies Group during the 4th quarter worth about $9,819,000.

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.