Shoals Technologies Group (NASDAQ:SHLS) Releases Quarterly Earnings Results

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) posted its earnings results on Tuesday. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02), Zacks reports. Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. The business had revenue of $80.36 million for the quarter, compared to analyst estimates of $74.66 million. During the same period in the previous year, the company earned $0.07 earnings per share. The company's quarterly revenue was down 11.2% compared to the same quarter last year. Shoals Technologies Group updated its FY 2025 guidance to EPS and its Q2 2025 guidance to EPS.

Shoals Technologies Group Price Performance

Shares of Shoals Technologies Group stock traded up $0.25 during mid-day trading on Friday, reaching $5.07. 9,728,512 shares of the stock were exchanged, compared to its average volume of 5,880,913. The company has a market cap of $846.66 million, a price-to-earnings ratio of 25.35, a price-to-earnings-growth ratio of 0.52 and a beta of 1.52. Shoals Technologies Group has a fifty-two week low of $2.71 and a fifty-two week high of $8.52. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. The firm has a 50-day simple moving average of $3.45 and a 200 day simple moving average of $4.38.

Insider Transactions at Shoals Technologies Group

In other news, CEO Brandon Moss sold 21,700 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $3.07, for a total transaction of $66,619.00. Following the completion of the sale, the chief executive officer now owns 1,051,303 shares in the company, valued at $3,227,500.21. The trade was a 2.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders sold 40,575 shares of company stock valued at $123,957. Corporate insiders own 1.67% of the company's stock.

Analyst Upgrades and Downgrades

SHLS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price objective on Shoals Technologies Group from $11.00 to $10.00 and set an "overweight" rating on the stock in a research note on Thursday, January 23rd. The Goldman Sachs Group boosted their price objective on shares of Shoals Technologies Group from $5.00 to $6.00 and gave the stock a "buy" rating in a research note on Wednesday. UBS Group dropped their target price on shares of Shoals Technologies Group from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Piper Sandler decreased their price target on shares of Shoals Technologies Group from $8.00 to $6.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Finally, Wolfe Research began coverage on Shoals Technologies Group in a research note on Tuesday, February 18th. They issued a "peer perform" rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Shoals Technologies Group has an average rating of "Moderate Buy" and an average target price of $8.77.

About Shoals Technologies Group

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.