Shoals Technologies Group (NASDAQ:SHLS) Shares Gap Down – What’s Next?

Shoals Technologies Group, Inc. (NASDAQ:SHLS) gapped down prior to trading on Wednesday . The stock had previously closed at $7.22, but opened at $7.00. Shoals Technologies Group shares last traded at $7.4750, with a volume of 822,108 shares traded.

Analyst Ratings Changes

A number of research firms have recently issued reports on SHLS. Roth Mkm reduced their price target on shares of Shoals Technologies Group from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. The Goldman Sachs Group reissued a “buy” rating on shares of Shoals Technologies Group in a research report on Monday, February 9th. UBS Group dropped their price objective on Shoals Technologies Group from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Wall Street Zen downgraded Shoals Technologies Group from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Guggenheim dropped their price objective on Shoals Technologies Group from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Shoals Technologies Group presently has an average rating of “Moderate Buy” and an average price target of $9.57.

Shoals Technologies Group Stock Up 2.5%

The company has a debt-to-equity ratio of 0.23, a current ratio of 2.03 and a quick ratio of 1.32. The business has a fifty day moving average of $7.47 and a 200 day moving average of $8.48. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 37.47, a P/E/G ratio of 0.92 and a beta of 1.64.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). Shoals Technologies Group had a net margin of 7.06% and a return on equity of 9.10%. The company had revenue of $148.33 million for the quarter, compared to analyst estimates of $144.52 million. During the same quarter last year, the business earned $0.08 EPS. The company’s revenue for the quarter was up 38.6% on a year-over-year basis. On average, equities analysts predict that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

Hedge Funds Weigh In On Shoals Technologies Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SHLS. GAMMA Investing LLC grew its holdings in Shoals Technologies Group by 57.7% during the fourth quarter. GAMMA Investing LLC now owns 3,756 shares of the company’s stock valued at $32,000 after purchasing an additional 1,375 shares during the last quarter. USA Financial Formulas acquired a new stake in shares of Shoals Technologies Group in the fourth quarter worth $49,000. State of Alaska Department of Revenue acquired a new stake in shares of Shoals Technologies Group in the third quarter worth $54,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Shoals Technologies Group in the first quarter worth $57,000. Finally, Tower Research Capital LLC TRC grew its stake 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 worth $66,000 after acquiring an additional 12,788 shares during the last quarter.

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.