Shoals Technologies Group, Inc. (NASDAQ:SHLS) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Shoals Technologies Group, with 11 buy ratings and six holds among 17 analysts. The average 12-month price target is $10.71, above the reported $7.42 share price.
• Shoals reported quarterly EPS of $0.12, beating estimates by $0.02, while revenue rose 47.4% year over year to $163.37 million and exceeded expectations.
• Institutional interest increased, including major stake expansions by California State Teachers Retirement System and Squarepoint Ops; however, an insider sold 10,000 shares, and only 0.81% of the stock is owned by insiders.

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) have received a consensus rating of "Moderate Buy" from the seventeen analysts that are presently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $10.7143.

Several equities analysts recently issued reports on SHLS shares. Citigroup reiterated a "neutral" rating on shares of Shoals Technologies Group in a research report on Wednesday, July 22nd. Oppenheimer reissued an "outperform" rating and issued a $13.00 price target on shares of Shoals Technologies Group in a research note on Tuesday, August 4th. Roth Capital restated a "buy" rating on shares of Shoals Technologies Group in a report on Thursday, July 2nd. Royal Bank Of Canada lifted their price objective on Shoals Technologies Group from $9.00 to $10.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. Finally, Wall Street Zen downgraded Shoals Technologies Group from a "buy" rating to a "hold" rating in a report on Sunday, August 16th.

Insider Buying and Selling at Shoals Technologies Group

In related news, insider Bobbie King, Jr. sold 10,000 shares of Shoals Technologies Group stock in a transaction that occurred 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 sale, the insider directly owned 98,918 shares in the company, valued at $1,029,736.38. The trade was a 9.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Shoals Technologies Group

A number of institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC lifted its position in Shoals Technologies Group by 410.9% during the second quarter. Squarepoint Ops LLC now owns 367,387 shares of the company's stock valued at $3,637,000 after buying an additional 295,484 shares during the period. Corient Private Wealth LP bought a new position in shares of Shoals Technologies Group in the 2nd quarter worth about $170,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Shoals Technologies Group in the 2nd quarter worth about $110,000. California State Teachers Retirement System increased its stake in shares of Shoals Technologies Group by 863.9% in the 2nd quarter. California State Teachers Retirement System now owns 1,926,857 shares of the company's stock worth $194,632,000 after acquiring an additional 1,726,954 shares in the last quarter. Finally, Round Rock Advisors LLC lifted its position in Shoals Technologies Group by 14.1% during the 2nd quarter. Round Rock Advisors LLC now owns 185,927 shares of the company's stock valued at $1,841,000 after acquiring an additional 22,971 shares during the period.

Shoals Technologies Group Stock Performance

Shares of SHLS stock opened at $7.42 on Wednesday. The stock has a fifty day moving average of $8.72 and a 200 day moving average of $8.47. Shoals Technologies Group has a 52 week low of $5.43 and a 52 week high of $13.18. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 39.05, a PEG ratio of 0.88 and a beta of 1.89. The company has a quick ratio of 1.12, a current ratio of 2.25 and a debt-to-equity ratio of 0.32.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last issued its quarterly earnings data 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 net margin of 5.41% and a return on equity of 10.07%. The business had revenue of $163.37 million for the quarter, compared to the consensus estimate of $160.03 million. During the same period in the previous year, the firm earned $0.10 EPS. The company's quarterly revenue was up 47.4% compared to the same quarter last year. As a group, research analysts expect that Shoals Technologies Group will post 0.34 earnings per share for the current year.

Shoals Technologies Group Company Profile

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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