Shoals Technologies Group, Inc. to Post Q2 2024 Earnings of $0.12 Per Share, Northland Capmk Forecasts (NASDAQ:SHLS)

Shoals Technologies Group, Inc. (NASDAQ:SHLS) – Equities research analysts at Northland Capmk lowered their Q2 2024 earnings estimates for shares of Shoals Technologies Group in a research report issued to clients and investors on Friday, May 3rd. Northland Capmk analyst D. Schafer now anticipates that the company will post earnings of $0.12 per share for the quarter, down from their prior forecast of $0.14. The consensus estimate for Shoals Technologies Group’s current full-year earnings is $0.50 per share. Northland Capmk also issued estimates for Shoals Technologies Group’s Q3 2024 earnings at $0.18 EPS, FY2024 earnings at $0.49 EPS and FY2025 earnings at $0.57 EPS.

Shoals Technologies Group (NASDAQ:SHLS) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.04). The company had revenue of $130.44 million during the quarter, compared to analysts’ expectations of $131.89 million. Shoals Technologies Group had a return on equity of 16.02% and a net margin of 8.18%.

Several other research analysts also recently weighed in on SHLS. TD Cowen dropped their target price on shares of Shoals Technologies Group from $30.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. Piper Sandler dropped their price objective on shares of Shoals Technologies Group from $16.00 to $14.00 and set an “overweight” rating for the company in a report on Thursday, April 11th. JPMorgan Chase & Co. dropped their price objective on shares of Shoals Technologies Group from $32.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, February 29th. UBS Group dropped their price objective on shares of Shoals Technologies Group from $28.00 to $20.00 and set a “buy” rating for the company in a report on Friday, March 1st. Finally, Mizuho dropped their price objective on shares of Shoals Technologies Group from $18.00 to $16.00 and set a “buy” rating for the company in a report on Friday, April 19th. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.61.

Shoals Technologies Group Trading Down 0.6 %

Shares of Shoals Technologies Group stock opened at $8.80 on Monday. The company has a market capitalization of $1.50 billion, a P/E ratio of 35.20 and a beta of 1.86. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.88 and a current ratio of 2.45. The company has a fifty day moving average of $10.79 and a 200 day moving average of $13.34. Shoals Technologies Group has a fifty-two week low of $8.06 and a fifty-two week high of $28.34.

Institutional Trading of Shoals Technologies Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ANTIPODES PARTNERS Ltd raised its position in Shoals Technologies Group by 122.4% in the 1st quarter. ANTIPODES PARTNERS Ltd now owns 4,793 shares of the company’s stock worth $54,000 after purchasing an additional 2,638 shares during the period. Corbyn Investment Management Inc. MD purchased a new position in shares of Shoals Technologies Group during the first quarter worth approximately $581,000. Quantbot Technologies LP purchased a new position in shares of Shoals Technologies Group during the first quarter worth approximately $217,000. GSA Capital Partners LLP purchased a new position in shares of Shoals Technologies Group during the first quarter worth approximately $545,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Shoals Technologies Group by 59.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 351,424 shares of the company’s stock worth $3,929,000 after acquiring an additional 130,434 shares during the period.

About Shoals Technologies Group

Shoals Technologies Group, Inc provides electrical balance of system (EBOS) solutions and components for solar, battery energy, and electric vehicle (EV) charging applications in the United States and internationally. The company designs, manufactures, and sells system solutions for both homerun and combine-as-you-go wiring architectures, as well as offers technical support services.