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

Key Points

• Shoals Technologies Group, Inc. has been rated a "Moderate Buy" by analysts, with a consensus from 22 covering the stock, including 14 buy ratings, 6 holds, and 2 sells.
• The average price target among brokers for Shoals Technologies Group is $9.15, showing optimism for the stock's future performance.
• Large investors have recently increased their positions in the company, with notable boosts from Nisa Investment Advisors and new acquisitions by other firms, indicating growing institutional interest.

Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the twenty-two ratings firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $9.1524.

A number of equities research analysts have recently commented on SHLS shares. Roth Capital raised shares of Shoals Technologies Group from a "neutral" rating to a "buy" rating and set a $10.00 target price for the company in a report on Thursday, August 7th. Wall Street Zen cut shares of Shoals Technologies Group from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 17th. Jefferies Financial Group raised shares of Shoals Technologies Group from a "hold" rating to a "buy" rating and increased their price target for the stock from $4.90 to $7.20 in a report on Monday, July 7th. BNP Paribas reissued an "underperform" rating and set a $4.00 price target (down from $4.50) on shares of Shoals Technologies Group in a report on Thursday, May 15th. Finally, UBS Group cut their price target on shares of Shoals Technologies Group from $7.50 to $7.00 and set a "buy" rating for the company in a report on Wednesday, August 6th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Goodlander Investment Management LLC purchased a new position in Shoals Technologies Group during the fourth quarter worth about $8,295,000. Wealth Enhancement Advisory Services LLC acquired a new position in Shoals Technologies Group during the first quarter worth about $65,000. Janney Montgomery Scott LLC grew its position in Shoals Technologies Group by 187.9% during the first quarter. Janney Montgomery Scott LLC now owns 269,096 shares of the company's stock worth $893,000 after buying an additional 175,627 shares during the period. Schonfeld Strategic Advisors LLC grew its position in Shoals Technologies Group by 189.1% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 123,695 shares of the company's stock worth $684,000 after buying an additional 80,911 shares during the period. Finally, Ameriprise Financial Inc. grew its position in Shoals Technologies Group by 45.3% during the fourth quarter. Ameriprise Financial Inc. now owns 1,882,420 shares of the company's stock worth $10,410,000 after buying an additional 587,235 shares during the period.

Shoals Technologies Group Stock Performance

Shares of NASDAQ:SHLS traded down $0.08 on Friday, reaching $6.51. The company's stock had a trading volume of 2,362,505 shares, compared to its average volume of 6,216,846. The stock's 50-day moving average is $5.54 and its two-hundred day moving average is $4.54. Shoals Technologies Group has a 52-week low of $2.71 and a 52-week high of $7.13. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.34 and a quick ratio of 1.64. The stock has a market capitalization of $1.09 billion, a P/E ratio of 26.04, a PEG ratio of 0.80 and a beta of 1.62.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $110.84 million during the quarter, compared to analysts' expectations of $104.87 million. During the same period in the prior year, the company earned $0.10 earnings per share. The business'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 forecast that Shoals Technologies Group will post 0.29 EPS for the current year.

Shoals Technologies Group Company Profile

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.