Shoals Technologies Group, Inc. (NASDAQ:SHLS) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Shoals Technologies Group, Inc. has received an average recommendation of "Moderate Buy" from 21 research firms, with a price target of $9.15 among those that issued ratings.
• Recently, Jefferies Financial Group raised its price target for the stock from $6.00 to $9.00, while Roth Capital upgraded it to a “buy” rating with a target of $10.00.
• The company reported a revenue of $110.84 million for the last quarter, exceeding analyst expectations and indicating an 11.7% increase year-over-year.

Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) has earned an average recommendation of "Moderate Buy" from the twenty-one research firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $9.15.

Several research firms recently commented on SHLS. Jefferies Financial Group raised their price target on shares of Shoals Technologies Group from $6.00 to $9.00 and gave the stock a "buy" rating in a research report on Monday, September 8th. Guggenheim increased their target price on shares of Shoals Technologies Group from $6.00 to $8.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Wall Street Zen downgraded shares of Shoals Technologies Group from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 17th. Mizuho cut Shoals Technologies Group from an "outperform" rating to a "neutral" rating and set a $7.00 price target for the company. in a research note on Monday, July 14th. Finally, Roth Capital raised Shoals Technologies Group from a "neutral" rating to a "buy" rating and set a $10.00 price target on the stock in a research report on Thursday, August 7th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Shoals Technologies Group during the 1st quarter worth $65,000. Janney Montgomery Scott LLC grew its position in Shoals Technologies Group by 187.9% in the first quarter. Janney Montgomery Scott LLC now owns 269,096 shares of the company's stock valued at $893,000 after acquiring an additional 175,627 shares during the last quarter. Comerica Bank raised its stake in Shoals Technologies Group by 23.6% during the first quarter. Comerica Bank now owns 200,976 shares of the company's stock worth $667,000 after acquiring an additional 38,328 shares in the last quarter. Two Sigma Investments LP lifted its holdings in shares of Shoals Technologies Group by 40.6% in the fourth quarter. Two Sigma Investments LP now owns 657,589 shares of the company's stock worth $3,636,000 after acquiring an additional 189,754 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Shoals Technologies Group by 13.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 478,524 shares of the company's stock worth $2,646,000 after acquiring an additional 56,176 shares during the last quarter.

Shoals Technologies Group Price Performance

Shoals Technologies Group stock opened at $7.20 on Wednesday. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 55.39, a PEG ratio of 0.92 and a beta of 1.63. The company has a current ratio of 2.34, a quick ratio of 1.64 and a debt-to-equity ratio of 0.23. Shoals Technologies Group has a 12 month low of $2.71 and a 12 month high of $7.76. The stock's 50 day moving average is $6.09 and its 200-day moving average is $4.93.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.02. Shoals Technologies Group had a return on equity of 7.57% and a net margin of 5.27%.The business had revenue of $110.84 million during the quarter, compared to analysts' expectations of $104.87 million. During the same period last year, the firm posted $0.10 EPS. The firm's revenue for the quarter 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. Equities research analysts expect 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.

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