Shoals Technologies Group, Inc. (NASDAQ:SHLS) Receives Average Rating of “Moderate Buy” from Brokerages

Shoals Technologies Group, Inc. (NASDAQ:SHLS) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-three research firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $8.00.

Several brokerages recently issued reports on SHLS. JPMorgan Chase & Co. upped their price objective on shares of Shoals Technologies Group from $9.00 to $11.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Guggenheim upped their price objective on shares of Shoals Technologies Group from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Shoals Technologies Group in a research note on Tuesday, October 14th. Needham & Company LLC began coverage on shares of Shoals Technologies Group in a research note on Wednesday. They issued a “buy” rating and a $12.00 price target for the company. Finally, Jefferies Financial Group increased their price target on shares of Shoals Technologies Group from $6.00 to $9.00 and gave the company a “buy” rating in a research note on Monday, September 8th.

Institutional Trading of Shoals Technologies Group

Several hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC grew its stake in shares of Shoals Technologies Group by 306.8% in the 3rd quarter. SG Americas Securities LLC now owns 95,284 shares of the company’s stock valued at $706,000 after buying an additional 71,863 shares during the period. Trium Capital LLP purchased a new stake in shares of Shoals Technologies Group in the 3rd quarter valued at approximately $649,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Shoals Technologies Group by 5,634.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 58,837 shares of the company’s stock worth $436,000 after acquiring an additional 57,811 shares during the last quarter. Swedbank AB lifted its holdings in shares of Shoals Technologies Group by 203.9% in the 3rd quarter. Swedbank AB now owns 797,445 shares of the company’s stock worth $5,909,000 after acquiring an additional 535,000 shares during the last quarter. Finally, Financial Enhancement Group LLC acquired a new position in shares of Shoals Technologies Group in the 3rd quarter worth approximately $832,000.

Shoals Technologies Group Stock Up 3.8%

Shares of NASDAQ SHLS opened at $10.32 on Friday. Shoals Technologies Group has a 12-month low of $2.71 and a 12-month high of $11.31. The stock has a market cap of $1.73 billion, a PE ratio of 79.39, a P/E/G ratio of 1.19 and a beta of 1.65. The company has a current ratio of 2.34, a quick ratio of 1.64 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average of $7.75 and a 200 day moving average of $5.80.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02. Shoals Technologies Group had a net margin of 5.27% and a return on equity of 7.57%. The company had revenue of $110.84 million during the quarter, compared to analysts’ expectations of $104.87 million. During the same quarter in the prior year, the company earned $0.10 EPS. Shoals Technologies Group’s revenue was up 11.7% compared to the same quarter last year. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts predict that Shoals Technologies Group will post 0.29 EPS for the current fiscal year.

About Shoals Technologies Group

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.