Shoals Technologies Group (NASDAQ:SHLS) Hits New 1-Year High - Here's What Happened

Key Points

• Shoals Technologies Group (NASDAQ:SHLS) reached a new 52-week high of $9.44 during trading, with a volume of over 3.3 million shares exchanged.
• Several brokerages have upgraded their ratings for Shoals, with Roth Capital setting a target price of $10.00 and Barclays increasing theirs from $7.00 to $10.00.
• The company's earnings per share in the last quarter were $0.10, exceeding analysts' estimates, while revenues rose by 11.7% year-over-year to $110.84 million.

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $9.44 and last traded at $9.18, with a volume of 3311678 shares changing hands. The stock had previously closed at $8.84.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SHLS. Roth Capital upgraded shares of Shoals Technologies Group from a "neutral" rating to a "buy" rating and set a $10.00 target price on the stock in a research report on Thursday, August 7th. 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. Barclays upgraded shares of Shoals Technologies Group from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $7.00 to $10.00 in a research report on Thursday, October 2nd. JPMorgan Chase & Co. increased their target price on shares of Shoals Technologies Group from $8.00 to $9.00 and gave the stock an "overweight" rating in a research report on Friday, September 19th. Finally, Mizuho lowered shares of Shoals Technologies Group from an "outperform" rating to a "neutral" rating and set a $7.00 target price on the stock. in a research report on Monday, July 14th. Fourteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $9.40.

Shoals Technologies Group Stock Performance

The stock's fifty day moving average price is $6.70 and its two-hundred day moving average price is $5.33. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.64 and a current ratio of 2.34. The company has a market cap of $1.51 billion, a P/E ratio of 69.24, a P/E/G ratio of 1.06 and a beta of 1.65.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, topping 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 company had revenue of $110.84 million during the quarter, compared to the consensus estimate of $104.87 million. During the same quarter in the prior year, the firm posted $0.10 EPS. The firm's quarterly revenue was up 11.7% on a year-over-year basis. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities analysts predict that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

Hedge Funds Weigh In On Shoals Technologies Group

Several large investors have recently modified their holdings of SHLS. Nisa Investment Advisors LLC raised its stake in shares of Shoals Technologies Group by 449.1% during the second quarter. Nisa Investment Advisors LLC now owns 7,226 shares of the company's stock valued at $31,000 after acquiring an additional 5,910 shares during the last quarter. Cerity Partners LLC bought a new position in shares of Shoals Technologies Group during the first quarter valued at $43,000. MQS Management LLC bought a new position in shares of Shoals Technologies Group during the first quarter valued at $43,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Shoals Technologies Group during the first quarter valued at $44,000. Finally, Virtu Financial LLC bought a new position in shares of Shoals Technologies Group during the first quarter valued at $46,000.

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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