Needham & Company LLC Has Lowered Expectations for Shoals Technologies Group (NASDAQ:SHLS) Stock Price

Posted by Defense World Staff on Feb 27th, 2026

Shoals Technologies Group (NASDAQ:SHLS – Get Free Report) had its target price reduced by analysts at Needham & Company LLC from $14.00 to $12.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target suggests a potential upside of 88.98% from the stock’s previous close.

Several other analysts have also recently issued reports on SHLS. TD Cowen restated a “buy” rating on shares of Shoals Technologies Group in a research report on Tuesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Shoals Technologies Group in a report on Friday, January 9th. Morgan Stanley reissued an “equal weight” rating and set a $9.50 target price (down from $11.00) on shares of Shoals Technologies Group in a research report on Tuesday, December 16th. Zacks Research downgraded Shoals Technologies Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Finally, Roth Mkm dropped their price objective 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. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Shoals Technologies Group has an average rating of “Moderate Buy” and a consensus target price of $9.71.

Read Our Latest Stock Analysis on Shoals Technologies Group

Shoals Technologies Group Stock Down 7.3%

NASDAQ SHLS opened at $6.35 on Wednesday. The stock has a 50 day moving average price of $9.33 and a 200-day moving average price of $8.49. Shoals Technologies Group has a one year low of $2.71 and a one year high of $11.36. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.53 and a current ratio of 2.03. The company has a market capitalization of $1.06 billion, a P/E ratio of 31.75, a P/E/G ratio of 0.58 and a beta of 1.70.

Shoals Technologies Group (NASDAQ:SHLS – Get Free Report) last released its quarterly earnings results on Tuesday, February 24th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $148.33 million for the quarter, compared to analysts’ expectations of $144.52 million. During the same period in the previous year, the company earned $0.08 EPS. Shoals Technologies Group’s revenue for the quarter was up 38.6% compared to the same quarter last year. As a group, equities analysts predict that Shoals Technologies Group will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Dominic Bardos sold 4,170 shares of the business’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $7.83, for a total value of $32,651.10. Following the completion of the sale, the chief financial officer owned 412,289 shares in the company, valued at approximately $3,228,222.87. The trade was a 1.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.67% of the company’s stock.

Hedge Funds Weigh In On Shoals Technologies Group

Several institutional investors have recently bought and sold shares of SHLS. Dynamic Technology Lab Private Ltd lifted its stake in Shoals Technologies Group by 815.6% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 157,946 shares of the company’s stock valued at $671,000 after buying an additional 140,696 shares in the last quarter. Ruffer LLP acquired a new position in shares of Shoals Technologies Group during the third quarter valued at approximately $2,735,000. Financial Enhancement Group LLC purchased a new position in shares of Shoals Technologies Group in the third quarter valued at approximately $832,000. American Century Companies Inc. boosted its stake in shares of Shoals Technologies Group by 128.3% in the second quarter. American Century Companies Inc. now owns 2,754,266 shares of the company’s stock worth $11,706,000 after acquiring an additional 1,548,094 shares during the last quarter. Finally, Great Lakes Advisors LLC acquired a new stake in shares of Shoals Technologies Group in the third quarter worth approximately $1,546,000.

Shoals Technologies Group News Summary

Here are the key news stories impacting Shoals Technologies Group this week:

Positive Sentiment: Shoals and ON.energy won a deployment to supply critical power systems to a leading AI data‑center operator — a strategic large‑customer win that highlights demand outside core solar end markets. Shoals Technologies Group and ON.energy to deploy critical power systems for leading AI data center operator
Positive Sentiment: Shoals is targeting $560M–$600M in 2026 revenue and cites a record backlog plus new product launches — this implies multi‑year growth potential if backlog converts. Shoals targets $560M–$600M 2026 revenue amid record backlog and new product launches
Positive Sentiment: Q4 revenue was a record ~$148M (FY growth ~19%) — top‑line momentum that supports longer‑term growth assumptions even as near‑term margins/earnings vary. Shoals reports record $148 million Q4 revenue, full-year growth of 19%
Positive Sentiment: Short interest fell ~14.5% in February to ~10.9M shares (6.6% of float), reducing one potential source of downward pressure and shortening the short‑covering risk window. (no direct article link)
Neutral Sentiment: Multiple brokerages updated targets/ratings: Citi cut its PT to $8.50 (neutral), Morgan Stanley to $8.50 (equal weight), Barclays to $9.00 (overweight), UBS/Guggenheim/Needham trimmed PTs but largely kept buy/overweight stances — a cluster of mostly downward target adjustments that narrows upside but leaves several mid‑single‑digit to double‑digit upside scenarios. Benzinga coverage of analyst price target moves
Negative Sentiment: Shoals missed EPS estimates (Q reported EPS below consensus) and issued a Q1 outlook that the market read as a sharp near‑term slowdown, which prompted a gap down in the stock today. That weak short‑term guidance is the main driver of the intra‑day weakness. Shoals Technologies declines as Q1 outlook signals sharp slowdown

About Shoals Technologies Group

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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.