Shoals Technologies Group (SHLS) – Research Analysts’ Recent Ratings Updates

Several brokerages have updated their recommendations and price targets on shares of Shoals Technologies Group (NASDAQ: SHLS) in the last few weeks:

• 1/23/2025 – Shoals Technologies Group had its price target lowered by analysts at JPMorgan Chase & Co. from $11.00 to $10.00. They now have an “overweight” rating on the stock.
• 1/22/2025 – Shoals Technologies Group had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $9.00 to $8.00. They now have a “buy” rating on the stock.
• 1/17/2025 – Shoals Technologies Group had its price target lowered by analysts at Barclays PLC from $5.00 to $4.00. They now have an “equal weight” rating on the stock.
• 1/16/2025 – Shoals Technologies Group had its price target lowered by analysts at Truist Financial Co. from $8.00 to $7.00. They now have a “buy” rating on the stock.
• 12/17/2024 – Shoals Technologies Group was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating. They now have a $7.00 price target on the stock.
• 12/17/2024 – Shoals Technologies Group had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $10.00 to $9.00. They now have a “buy” rating on the stock.
• 11/25/2024 – Shoals Technologies Group is now covered by analysts at Bank of America Co.. They set a “buy” rating and a $6.00 price target on the stock.

Shoals Technologies Group Stock Up 8.9 %

SHLS stock opened at $4.67 on Friday. The stock has a 50-day simple moving average of $5.05 and a two-hundred day simple moving average of $5.49. The firm has a market capitalization of $778.49 million, a PE ratio of 23.35, a PEG ratio of 0.54 and a beta of 1.64. The company has a quick ratio of 1.36, a current ratio of 2.08 and a debt-to-equity ratio of 0.26. Shoals Technologies Group, Inc. has a twelve month low of $4.07 and a twelve month high of $17.50.

Shoals Technologies Group (NASDAQ:SHLS) last issued its earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.02). Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. The firm had revenue of $102.20 million during the quarter, compared to analysts’ expectations of $98.86 million. During the same period in the prior year, the company earned $0.16 EPS. The firm’s quarterly revenue was down 23.8% compared to the same quarter last year. On average, equities analysts predict that Shoals Technologies Group, Inc. will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Brandon Moss acquired 22,300 shares of the stock in a transaction on Thursday, November 21st. The stock was acquired at an average price of $4.55 per share, for a total transaction of $101,465.00. Following the completion of the purchase, the chief executive officer now owns 593,700 shares of the company’s stock, valued at $2,701,335. This represents a 3.90 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 6,460 shares of company stock valued at $30,271 over the last ninety days. 1.67% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Wellington Management Group LLP lifted its position in Shoals Technologies Group by 14.6% during the third quarter. Wellington Management Group LLP now owns 13,107,404 shares of the company’s stock valued at $73,533,000 after purchasing an additional 1,666,691 shares during the period. Point72 Europe London LLP bought a new position in shares of Shoals Technologies Group during the 3rd quarter valued at $1,461,000. Handelsbanken Fonder AB boosted its stake in shares of Shoals Technologies Group by 34.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 2,711,603 shares of the company’s stock worth $15,212,000 after buying an additional 690,344 shares during the last quarter. Erste Asset Management GmbH bought a new stake in shares of Shoals Technologies Group in the third quarter worth $20,191,000. Finally, Roubaix Capital LLC purchased a new stake in Shoals Technologies Group during the third quarter valued at $2,156,000.

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.