Wall Street Zen upgraded shares of Shoals Technologies Group (NASDAQ:SHLS – Free Report) from a hold rating to a buy rating in a research report report published on Saturday morning.
SHLS has been the topic of a number of other reports. UBS Group lifted their target price on Shoals Technologies Group from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Citigroup reaffirmed a “neutral” rating on shares of Shoals Technologies Group in a report on Wednesday, July 22nd. Wells Fargo & Company increased their price target on Shoals Technologies Group from $9.00 to $10.00 and gave the company an “equal weight” rating in a research report on Thursday, June 11th. Weiss Ratings raised Shoals Technologies Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 4th. Finally, Barclays boosted their price objective on Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.71.
Check Out Our Latest Research Report on Shoals Technologies Group
Shoals Technologies Group Stock Down 4.1%
Shoals Technologies Group (NASDAQ:SHLS – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.02. Shoals Technologies Group had a net margin of 5.41% and a return on equity of 10.07%. The firm had revenue of $163.37 million for the quarter, compared to analyst estimates of $160.03 million. During the same quarter in the previous year, the business posted $0.10 earnings per share. The firm’s quarterly revenue was up 47.4% compared to the same quarter last year. Equities research analysts forecast that Shoals Technologies Group will post 0.34 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Shoals Technologies Group news, insider Bobbie Lee King, Jr. sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $10.41, for a total transaction of $104,100.00. Following the sale, the insider directly owned 98,918 shares of the company’s stock, valued at $1,029,736.38. The trade was a 9.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.81% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. KBC Group NV purchased a new stake in Shoals Technologies Group in the 1st quarter worth about $30,000. PNC Financial Services Group Inc. grew its stake in Shoals Technologies Group by 378.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,566 shares of the company’s stock valued at $50,000 after acquiring an additional 5,983 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Shoals Technologies Group during the 1st quarter valued at about $57,000. Tower Research Capital LLC TRC increased its holdings in shares of Shoals Technologies Group by 468.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 15,519 shares of the company’s stock valued at $66,000 after purchasing an additional 12,788 shares during the period. Finally, Miller Howard Investments Inc. NY acquired a new position in shares of Shoals Technologies Group in the 1st quarter valued at about $70,000.
About Shoals Technologies Group
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.
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