Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS – Get Free Report) have earned an average recommendation of “Moderate Buy” from the seventeen ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $9.7857.
SHLS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Needham & Company LLC reiterated a “buy” rating and set a $12.00 price objective on shares of Shoals Technologies Group in a research note on Wednesday, May 6th. Weiss Ratings raised shares of Shoals Technologies Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. UBS Group boosted their target price on shares of Shoals Technologies Group from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Jefferies Financial Group reduced their price target on shares of Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, March 11th.
Get Our Latest Stock Analysis on Shoals Technologies Group
Shoals Technologies Group Stock Up 6.6%
Shoals Technologies Group (NASDAQ:SHLS – Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The firm had revenue of $140.56 million for the quarter, compared to analyst estimates of $129.16 million. Shoals Technologies Group had a return on equity of 10.03% and a net margin of 6.27%.The business’s revenue for the quarter was up 74.4% on a year-over-year basis. On average, equities research analysts expect 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 business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $10.41, for a total transaction of $104,100.00. Following the completion of the transaction, the insider owned 98,918 shares of the company’s stock, valued at approximately $1,029,736.38. The trade was a 9.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Dominic Bardos sold 54,449 shares of the company’s 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 sale, the chief financial officer owned 394,979 shares of the company’s stock, valued at approximately $3,349,421.92. This represents a 12.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.81% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Shoals Technologies Group by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 13,594,139 shares of the company’s stock valued at $115,550,000 after purchasing an additional 404,133 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Shoals Technologies Group by 151.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,753,784 shares of the company’s stock worth $108,410,000 after purchasing an additional 7,685,515 shares in the last quarter. First Trust Advisors LP lifted its stake in Shoals Technologies Group by 15.4% in the 1st quarter. First Trust Advisors LP now owns 7,304,064 shares of the company’s stock valued at $48,061,000 after purchasing an additional 972,382 shares during the last quarter. Peconic Partners LLC lifted its stake in Shoals Technologies Group by 79.8% in the 2nd quarter. Peconic Partners LLC now owns 6,975,186 shares of the company’s stock valued at $29,645,000 after purchasing an additional 3,095,186 shares during the last quarter. Finally, UBS Group AG boosted its position in Shoals Technologies Group by 87.6% in the fourth quarter. UBS Group AG now owns 6,140,543 shares of the company’s stock valued at $52,195,000 after buying an additional 2,867,959 shares in 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.
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