Shoals Technologies Group (NASDAQ:SHLS) Trading Up 8.8% Following Analyst Upgrade

Posted by Brian Himes on Jun 12th, 2026

Shoals Technologies Group, Inc. (NASDAQ:SHLS – Get Free Report)’s share price shot up 8.8% during mid-day trading on Friday after Wells Fargo & Company raised their price target on the stock from $9.00 to $10.00. Wells Fargo & Company currently has an equal weight rating on the stock. Shoals Technologies Group traded as high as $10.41 and last traded at $10.7580. 354,085 shares were traded during mid-day trading, a decline of 93% from the average session volume of 5,193,118 shares. The stock had previously closed at $9.89.

SHLS has been the subject of a number of other reports. Jefferies Financial Group dropped their target price on shares of Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. TD Cowen reiterated a “buy” rating on shares of Shoals Technologies Group in a research report on Tuesday, February 24th. UBS Group upped their target price on Shoals Technologies Group from $11.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Roth Mkm dropped their price target on Shoals Technologies Group from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Shoals Technologies Group from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Ten analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.71.

View Our Latest Stock Analysis on SHLS

Insiders Place Their Bets

In other Shoals Technologies Group news, CFO Dominic Bardos sold 54,449 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $8.48, for a total value of $461,727.52. Following the completion of the transaction, the chief financial officer owned 394,979 shares in the company, valued at approximately $3,349,421.92. This represents a 12.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.81% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its stake in Shoals Technologies Group by 151.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,753,784 shares of the company’s stock worth $108,410,000 after acquiring an additional 7,685,515 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Shoals Technologies Group by 1,493.0% during the fourth quarter. First Trust Advisors LP now owns 6,331,682 shares of the company’s stock valued at $53,819,000 after purchasing an additional 5,934,223 shares in the last quarter. Castle Hook Partners LP purchased a new position in shares of Shoals Technologies Group during the fourth quarter valued at approximately $40,095,000. Amundi boosted its position in shares of Shoals Technologies Group by 175.2% in the 4th quarter. Amundi now owns 5,776,766 shares of the company’s stock worth $49,075,000 after purchasing an additional 3,677,713 shares in the last quarter. Finally, Peconic Partners LLC boosted its position in shares of Shoals Technologies Group by 79.8% in the 2nd quarter. Peconic Partners LLC now owns 6,975,186 shares of the company’s stock worth $29,645,000 after purchasing an additional 3,095,186 shares in the last quarter.

Shoals Technologies Group Price Performance

The company has a current ratio of 1.84, a quick ratio of 1.07 and a debt-to-equity ratio of 0.30. The company has a market cap of $1.80 billion, a PE ratio of 53.60, a P/E/G ratio of 1.12 and a beta of 1.90. The firm has a 50 day moving average of $8.86 and a two-hundred day moving average of $8.52.

Shoals Technologies Group (NASDAQ:SHLS – Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. Shoals Technologies Group had a return on equity of 10.03% and a net margin of 6.27%.The business had revenue of $140.56 million during the quarter, compared to analysts’ expectations of $129.16 million. The business’s revenue was up 74.4% compared to the same quarter last year. Research analysts predict that Shoals Technologies Group, Inc. will post 0.34 earnings per share for the current fiscal year.

About Shoals Technologies Group

(Get Free Report)

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.

Receive News & Ratings for Shoals Technologies Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shoals Technologies Group and related companies with MarketBeat.com's FREE daily email newsletter.