Equities Analysts Set Expectations for SHLS FY2025 Earnings

Shoals Technologies Group, Inc. (NASDAQ:SHLS) – Cantor Fitzgerald issued their FY2025 EPS estimates for shares of Shoals Technologies Group in a research report issued on Tuesday, January 21st. Cantor Fitzgerald analyst D. Soderberg forecasts that the company will post earnings of $0.33 per share for the year. The consensus estimate for Shoals Technologies Group’s current full-year earnings is $0.29 per share.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). The company had revenue of $102.20 million during the quarter, compared to analysts’ expectations of $98.86 million. Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. Shoals Technologies Group’s revenue was down 23.8% on a year-over-year basis. During the same period last year, the firm earned $0.16 earnings per share.

SHLS has been the topic of a number of other reports. Morgan Stanley raised shares of Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and set a $7.00 target price on the stock in a report on Tuesday, December 17th. Wells Fargo & Company assumed coverage on shares of Shoals Technologies Group in a report on Monday, October 14th. They issued an “equal weight” rating and a $46.00 target price for the company. The Goldman Sachs Group decreased their price target on Shoals Technologies Group from $9.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday. Citigroup raised shares of Shoals Technologies Group from a “sell” rating to a “neutral” rating and lifted their target price for the company from $5.00 to $5.50 in a report on Thursday, October 3rd. Finally, Bank of America started coverage on shares of Shoals Technologies Group in a report on Monday, November 25th. They set a “buy” rating and a $6.00 price target for the company. Three research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $10.03.

Shoals Technologies Group Stock Down 7.1 %

Shares of NASDAQ SHLS opened at $4.29 on Wednesday. The stock has a market cap of $715.14 million, a PE ratio of 21.45, a price-to-earnings-growth ratio of 0.54 and a beta of 1.64. Shoals Technologies Group has a 52-week low of $4.07 and a 52-week high of $17.50. The business has a 50-day moving average price of $5.06 and a 200 day moving average price of $5.50. The company has a quick ratio of 1.36, a current ratio of 2.08 and a debt-to-equity ratio of 0.26.

Insider Activity at Shoals Technologies Group

In related news, CEO Brandon Moss bought 22,300 shares of Shoals Technologies Group stock in a transaction that occurred on Thursday, November 21st. The shares were purchased at an average price of $4.55 per share, with a total value of $101,465.00. Following the purchase, the chief executive officer now owns 593,700 shares in the company, 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 SEC, which is available through this link. In the last three months, insiders have sold 6,460 shares of company stock valued at $30,271. Insiders own 1.67% of the company’s stock.

Hedge Funds Weigh In On Shoals Technologies Group

Several hedge funds have recently bought and sold shares of SHLS. Point72 Asset Management L.P. boosted its stake in shares of Shoals Technologies Group by 460.1% during the third quarter. Point72 Asset Management L.P. now owns 6,844,222 shares of the company’s stock valued at $38,396,000 after acquiring an additional 5,622,207 shares during the last quarter. Erste Asset Management GmbH purchased a new position in Shoals Technologies Group in the 3rd quarter valued at about $20,191,000. Millennium Management LLC boosted its stake in shares of Shoals Technologies Group by 262.8% during the 2nd quarter. Millennium Management LLC now owns 3,371,593 shares of the company’s stock worth $21,039,000 after purchasing an additional 2,442,227 shares during the last quarter. Verition Fund Management LLC grew its holdings in shares of Shoals Technologies Group by 938.3% during the third quarter. Verition Fund Management LLC now owns 2,251,093 shares of the company’s stock worth $12,629,000 after buying an additional 2,034,291 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Shoals Technologies Group by 14.6% in the third quarter. Wellington Management Group LLP now owns 13,107,404 shares of the company’s stock valued at $73,533,000 after buying an additional 1,666,691 shares during 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.