Shoals Technologies Group, Inc. (NASDAQ:SHLS) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) have been given a consensus rating of “Hold” by the twenty-two research firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $8.7632.

SHLS has been the subject of a number of research reports. Wells Fargo & Company raised their price target on shares of Shoals Technologies Group from $6.00 to $10.00 and gave the stock an “equal weight” rating in a report on Thursday, November 6th. Needham & Company LLC initiated coverage on shares of Shoals Technologies Group in a research report on Wednesday, October 22nd. They set a “buy” rating and a $12.00 price objective on the stock. The Goldman Sachs Group boosted their target price on Shoals Technologies Group from $8.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Morgan Stanley reiterated an “equal weight” rating and issued a $9.50 price target (down previously from $11.00) on shares of Shoals Technologies Group in a report on Tuesday, December 16th. Finally, JPMorgan Chase & Co. boosted their price objective on Shoals Technologies Group from $9.00 to $11.00 and gave the company an “overweight” rating in a report on Thursday, October 16th.

Insider Buying and Selling

In other Shoals Technologies Group news, CFO Dominic Bardos sold 4,170 shares of the business’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $7.83, for a total transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Shoals Technologies Group

Several hedge funds and other institutional investors have recently made changes to their positions in SHLS. Encompass Capital Advisors LLC purchased a new stake in shares of Shoals Technologies Group in the second quarter worth approximately $56,120,000. Peconic Partners LLC raised its position in Shoals Technologies Group by 79.8% in the 2nd quarter. Peconic Partners LLC now owns 6,975,186 shares of the company’s stock valued at $29,645,000 after buying an additional 3,095,186 shares during the last quarter. Amundi lifted its stake in Shoals Technologies Group by 858.2% during the 3rd quarter. Amundi now owns 2,099,053 shares of the company’s stock valued at $15,830,000 after acquiring an additional 1,879,985 shares in the last quarter. Electron Capital Partners LLC boosted its holdings in Shoals Technologies Group by 1,716.1% during the 2nd quarter. Electron Capital Partners LLC now owns 1,976,633 shares of the company’s stock worth $8,401,000 after acquiring an additional 1,867,795 shares during the last quarter. Finally, Schroder Investment Management Group bought a new stake in shares of Shoals Technologies Group in the 2nd quarter worth $7,917,000.

Shoals Technologies Group Stock Up 3.9%

Shares of NASDAQ:SHLS opened at $9.24 on Friday. Shoals Technologies Group has a 1 year low of $2.71 and a 1 year high of $11.36. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.19 and a quick ratio of 1.53. The business’s 50-day moving average is $8.70 and its 200-day moving average is $7.48. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 46.20, a P/E/G ratio of 0.75 and a beta of 1.70.

Shoals Technologies Group (NASDAQ:SHLS) last issued its earnings results on Tuesday, November 4th. The company reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.12. The business had revenue of $135.80 million during the quarter, compared to the consensus estimate of $131.37 million. Shoals Technologies Group had a return on equity of 8.50% and a net margin of 7.66%. Equities research analysts predict that Shoals Technologies Group will post 0.29 earnings per share for the current year.

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.