Shoals Technologies Group (NASDAQ:SHLS – Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.
SHLS has been the subject of several other research reports. UBS Group upped their target price on shares of Shoals Technologies Group from $11.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Citigroup reiterated a “neutral” rating on shares of Shoals Technologies Group in a research note on Wednesday, July 22nd. Jefferies Financial Group boosted their price target on shares of Shoals Technologies Group from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Weiss Ratings upgraded shares of Shoals Technologies Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 4th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $13.00 price objective on shares of Shoals Technologies Group in a report on Tuesday, August 4th. Eleven equities 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 an average rating of “Moderate Buy” and a consensus target price of $10.71.
View Our Latest Report on Shoals Technologies Group
Shoals Technologies Group Price Performance
Shoals Technologies Group (NASDAQ:SHLS – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. Shoals Technologies Group had a return on equity of 10.07% and a net margin of 5.41%.The firm had revenue of $163.37 million during the quarter, compared to the consensus estimate of $160.03 million. During the same period in the prior year, the company 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 anticipate that Shoals Technologies Group will post 0.34 earnings per share for the current fiscal year.
Insider Buying and Selling at Shoals Technologies Group
In other news, insider Bobbie Lee King, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider directly owned 98,918 shares in the company, valued at approximately $1,029,736.38. This trade represents a 9.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.81% of the company’s stock.
Institutional Trading of Shoals Technologies Group
Several institutional investors and hedge funds have recently bought and sold shares of SHLS. KBC Group NV acquired a new stake in Shoals Technologies Group during the 1st quarter worth $30,000. PNC Financial Services Group Inc. increased its stake in Shoals Technologies Group by 378.0% in the first quarter. PNC Financial Services Group Inc. now owns 7,566 shares of the company’s stock valued at $50,000 after purchasing an additional 5,983 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Shoals Technologies Group in the first quarter valued at about $57,000. Tower Research Capital LLC TRC raised its holdings in shares of Shoals Technologies Group by 468.3% in the second quarter. Tower Research Capital LLC TRC now owns 15,519 shares of the company’s stock valued at $66,000 after buying an additional 12,788 shares during the last quarter. Finally, Miller Howard Investments Inc. NY acquired a new stake in shares of Shoals Technologies Group during the first quarter worth 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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