Shoals Technologies Group (NASDAQ:SHLS) Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered shares of Shoals Technologies Group (NASDAQ:SHLS) from a strong-buy rating to a buy rating in a report issued on Sunday.

Several other analysts have also recently commented on SHLS. Mizuho cut Shoals Technologies Group from an “outperform” rating to a “neutral” rating and set a $7.00 price target for the company. in a research report on Monday, July 14th. Jefferies Financial Group upgraded Shoals Technologies Group from a “hold” rating to a “buy” rating and upped their target price for the company from $4.90 to $7.20 in a report on Monday, July 7th. UBS Group dropped their target price on Shoals Technologies Group from $7.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. BNP Paribas restated an “underperform” rating and issued a $4.00 target price (down from $4.50) on shares of Shoals Technologies Group in a report on Thursday, May 15th. Finally, Guggenheim upped their target price on Shoals Technologies Group from $6.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.15.

Shoals Technologies Group Stock Up 1.5%

Shares of SHLS opened at $6.13 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.64 and a current ratio of 2.34. Shoals Technologies Group has a one year low of $2.71 and a one year high of $7.00. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 47.16, a PEG ratio of 0.74 and a beta of 1.61. The stock has a 50 day moving average price of $5.33 and a 200 day moving average price of $4.42.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.08 by $0.02. Shoals Technologies Group had a return on equity of 7.57% and a net margin of 5.27%.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 business earned $0.10 earnings per share. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts forecast that Shoals Technologies Group will post 0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shoals Technologies Group

A number of hedge funds have recently modified their holdings of SHLS. Goodlander Investment Management LLC acquired a new position in Shoals Technologies Group during the 4th quarter worth about $8,295,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Shoals Technologies Group in the 1st quarter valued at about $65,000. Janney Montgomery Scott LLC raised its position in Shoals Technologies Group by 187.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 269,096 shares of the company’s stock valued at $893,000 after purchasing an additional 175,627 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its position in Shoals Technologies Group by 189.1% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 123,695 shares of the company’s stock valued at $684,000 after purchasing an additional 80,911 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in Shoals Technologies Group by 45.3% in the 4th quarter. Ameriprise Financial Inc. now owns 1,882,420 shares of the company’s stock valued at $10,410,000 after purchasing an additional 587,235 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.