Shoals Technologies Group (NASDAQ:SHLS) Research Coverage Started at Needham & Company LLC

Needham & Company LLC initiated coverage on shares of Shoals Technologies Group (NASDAQ:SHLS) in a report released on Wednesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $12.00 price objective on the stock.

Other research analysts have also recently issued research reports about the company. Mizuho cut Shoals Technologies Group from an “outperform” rating to a “neutral” rating and set a $7.00 target price on the stock. in a research note on Monday, July 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Shoals Technologies Group in a research note on Tuesday, October 14th. Barclays raised Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $7.00 to $10.00 in a research note on Thursday, October 2nd. Roth Capital raised Shoals Technologies Group from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Thursday, August 7th. Finally, UBS Group upped their target price on Shoals Technologies Group from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $8.00.

Shoals Technologies Group Stock Performance

Shares of NASDAQ:SHLS opened at $10.75 on Wednesday. Shoals Technologies Group has a 52 week low of $2.71 and a 52 week high of $11.31. The stock has a market capitalization of $1.80 billion, a P/E ratio of 82.70, a PEG ratio of 1.24 and a beta of 1.65. The firm has a fifty day simple moving average of $7.86 and a two-hundred day simple moving average of $5.85. The company has a quick ratio of 1.64, a current ratio of 2.34 and a debt-to-equity ratio of 0.23.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. Shoals Technologies Group had a net margin of 5.27% and a return on equity of 7.57%. The firm had revenue of $110.84 million during the quarter, compared to analysts’ expectations of $104.87 million. During the same period in the previous year, the company earned $0.10 EPS. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, analysts expect that Shoals Technologies Group will post 0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shoals Technologies Group

Several large investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue purchased a new stake in Shoals Technologies Group in the 3rd quarter valued at about $54,000. SG Americas Securities LLC raised its holdings in shares of Shoals Technologies Group by 306.8% in the 3rd quarter. SG Americas Securities LLC now owns 95,284 shares of the company’s stock valued at $706,000 after purchasing an additional 71,863 shares in the last quarter. Trium Capital LLP bought a new stake in shares of Shoals Technologies Group in the 3rd quarter valued at about $649,000. Harbor Capital Advisors Inc. raised its holdings in shares of Shoals Technologies Group by 5,634.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 58,837 shares of the company’s stock valued at $436,000 after purchasing an additional 57,811 shares in the last quarter. Finally, Swedbank AB raised its holdings in shares of Shoals Technologies Group by 203.9% in the 3rd quarter. Swedbank AB now owns 797,445 shares of the company’s stock valued at $5,909,000 after purchasing an additional 535,000 shares in the last quarter.

Shoals Technologies Group Company Profile

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.