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

Shoals Technologies Group, Inc. (NASDAQ:SHLS) has earned an average recommendation of “Moderate Buy” from the seventeen brokerages that are covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $9.5714.

A number of equities analysts have commented on SHLS shares. Zacks Research downgraded shares of Shoals Technologies Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Roth Mkm lowered their target price on shares of Shoals Technologies Group from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. UBS Group dropped their price target on shares of Shoals Technologies Group from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Jefferies Financial Group reduced their price objective on shares of Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, March 11th. Finally, Citigroup lowered their price objective on Shoals Technologies Group from $11.00 to $8.50 and set a “neutral” rating on the stock in a report on Thursday, February 26th.

Shoals Technologies Group Trading Down 0.5%

NASDAQ:SHLS opened at $6.17 on Wednesday. Shoals Technologies Group has a 12-month low of $2.92 and a 12-month high of $11.36. 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 stock’s 50 day simple moving average is $8.57 and its 200-day simple moving average is $8.55. The firm has a market cap of $1.03 billion, a P/E ratio of 30.85, a PEG ratio of 0.88 and a beta of 1.77.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd lifted its stake in shares of Shoals Technologies Group by 815.6% in the second quarter. Dynamic Technology Lab Private Ltd now owns 157,946 shares of the company’s stock valued at $671,000 after purchasing an additional 140,696 shares during the period. Ruffer LLP acquired a new position in Shoals Technologies Group during the third quarter worth about $2,735,000. Financial Enhancement Group LLC purchased a new position in Shoals Technologies Group in the third quarter valued at about $832,000. Erste Asset Management GmbH increased its holdings in Shoals Technologies Group by 44.1% in the third quarter. Erste Asset Management GmbH now owns 4,516,372 shares of the company’s stock valued at $33,873,000 after buying an additional 1,382,999 shares in the last quarter. Finally, Mercuria Capital Strategies LLC acquired a new stake in shares of Shoals Technologies Group during the 3rd quarter valued at approximately $2,223,000.

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.