Shoals Technologies Group, Inc. (NASDAQ:SHLS) Receives $9.57 Consensus Target Price from Brokerages

Shoals Technologies Group, Inc. (NASDAQ:SHLS) has earned an average rating of “Moderate Buy” from the seventeen analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $9.6429.

A number of brokerages have commented on SHLS. JPMorgan Chase & Co. upped their target price on shares of Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. TD Cowen restated a “buy” rating on shares of Shoals Technologies Group in a report on Tuesday, February 24th. UBS Group lifted their price objective on Shoals Technologies Group from $11.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Wall Street Zen downgraded Shoals Technologies Group from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Jefferies Financial Group decreased their price objective on Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, March 11th.

Shoals Technologies Group Price Performance

Shares of SHLS stock opened at $9.32 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.84 and a quick ratio of 1.07. The company has a market capitalization of $1.56 billion, a P/E ratio of 46.60, a P/E/G ratio of 1.00 and a beta of 1.74. The company’s 50-day simple moving average is $6.85 and its two-hundred day simple moving average is $8.31. Shoals Technologies Group has a one year low of $3.81 and a one year high of $11.36.

Shoals Technologies Group (NASDAQ:SHLS) last issued its earnings results on Tuesday, May 5th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $140.56 million for the quarter, compared to the consensus estimate of $129.16 million. Shoals Technologies Group had a net margin of 6.27% and a return on equity of 10.03%. Shoals Technologies Group’s quarterly revenue was up 74.4% compared to the same quarter last year. As a group, equities analysts anticipate that Shoals Technologies Group will post 0.37 EPS for the current year.

Insider Buying and Selling at Shoals Technologies Group

In related news, CFO Dominic Bardos sold 54,449 shares of Shoals Technologies Group 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 completion of the sale, the chief financial officer directly owned 394,979 shares in the company, valued at $3,349,421.92. The trade was a 12.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.81% of the stock is owned by insiders.

Institutional Trading of Shoals Technologies Group

Several institutional investors and hedge funds have recently made changes to their positions in SHLS. KBC Group NV bought a new stake in shares of Shoals Technologies Group in the first quarter valued at about $30,000. GAMMA Investing LLC raised its holdings in shares of Shoals Technologies Group by 57.7% in the fourth quarter. GAMMA Investing LLC now owns 3,756 shares of the company’s stock valued at $32,000 after acquiring an additional 1,375 shares in the last quarter. USA Financial Formulas bought a new stake in Shoals Technologies Group during the fourth quarter valued at about $49,000. PNC Financial Services Group Inc. grew its stake in Shoals Technologies Group by 378.0% in the first quarter. PNC Financial Services Group Inc. now owns 7,566 shares of the company’s stock valued at $50,000 after purchasing an additional 5,983 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in Shoals Technologies Group in the third quarter valued at about $54,000.

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.