Research Analysts’ Weekly Ratings Changes for Shoals Technologies Group (SHLS)

Shoals Technologies Group (NASDAQ: SHLS) has recently received a number of price target changes and ratings updates:

• 11/22/2024 – Shoals Technologies Group had its price target lowered by analysts at Piper Sandler from $10.00 to $8.00. They now have an “overweight” rating on the stock.
• 11/21/2024 – Shoals Technologies Group had its price target lowered by analysts at Guggenheim from $8.00 to $7.00. They now have a “buy” rating on the stock.
• 11/15/2024 – Shoals Technologies Group had its price target lowered by analysts at Morgan Stanley from $8.00 to $7.00. They now have an “equal weight” rating on the stock.
• 11/13/2024 – Shoals Technologies Group had its price target lowered by analysts at Barclays PLC from $7.00 to $5.00. They now have an “equal weight” rating on the stock.
• 11/13/2024 – Shoals Technologies Group had its price target raised by analysts at TD Cowen from $9.50 to $11.00. They now have a “buy” rating on the stock.
• 10/17/2024 – Shoals Technologies Group had its price target lowered by analysts at JPMorgan Chase & Co. from $14.00 to $12.00. They now have an “overweight” rating on the stock.
• 10/14/2024 – Shoals Technologies Group is now covered by analysts at Wells Fargo & Company. They set an “equal weight” rating and a $46.00 price target on the stock.
• 10/10/2024 – Shoals Technologies Group had its “equal weight” rating reaffirmed by analysts at Barclays PLC. They now have a $7.00 price target on the stock.
• 10/3/2024 – Shoals Technologies Group was upgraded by analysts at Citigroup Inc. from a “sell” rating to a “neutral” rating. They now have a $5.50 price target on the stock, up previously from $5.00.

Shoals Technologies Group Trading Up 9.8 %

Shares of SHLS stock opened at $4.83 on Monday. Shoals Technologies Group, Inc. has a 1 year low of $4.07 and a 1 year high of $17.50. The stock has a market cap of $805.16 million, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 0.64 and a beta of 1.73. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. The stock has a 50 day simple moving average of $5.36 and a 200 day simple moving average of $6.03.

Shoals Technologies Group (NASDAQ:SHLS) last announced its earnings results on Tuesday, November 12th. The company reported $0.08 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 company had revenue of $102.20 million for the quarter, compared to analyst estimates of $98.86 million. During the same period in the previous year, the firm posted $0.16 earnings per share. The firm’s quarterly revenue was down 23.8% compared to the same quarter last year. On average, research analysts predict that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Brandon Moss acquired 22,300 shares of Shoals Technologies Group stock in a transaction on Thursday, November 21st. The stock was acquired at an average cost of $4.55 per share, with a total value of $101,465.00. Following the transaction, the chief executive officer now owns 593,700 shares of the company’s stock, valued at approximately $2,701,335. This trade represents a 3.90 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.67% of the company’s stock.

Institutional Trading of Shoals Technologies Group

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Shoals Technologies Group by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 16,531,712 shares of the company’s stock valued at $184,825,000 after purchasing an additional 171,273 shares during the last quarter. Lazard Asset Management LLC raised its holdings in Shoals Technologies Group by 8.4% in the first quarter. Lazard Asset Management LLC now owns 150,026 shares of the company’s stock worth $1,676,000 after buying an additional 11,671 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Shoals Technologies Group by 1.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 184,913 shares of the company’s stock worth $2,068,000 after buying an additional 1,857 shares during the last quarter. Paloma Partners Management Co bought a new stake in shares of Shoals Technologies Group in the first quarter worth approximately $115,000. Finally, Invenomic Capital Management LP bought a new stake in shares of Shoals Technologies Group in the first quarter worth approximately $5,520,000.

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.