Shoals Technologies Group (NASDAQ:SHLS) Hits New 12-Month High on Analyst Upgrade

Key Points

• Shoals Technologies Group shares reached a new 52-week high of $8.85 following Barclays' upgrade from equal weight to overweight, raising the price target from $7.00 to $10.00.
• Other firms, including UBS, Jefferies, and JPMorgan, also upgraded their price targets, with a consensus target of $9.40 and fourteen analysts rating the stock as a Buy.
• A variety of institutional investors have significantly increased their holdings in Shoals Technologies Group, indicating strong market interest and confidence in the company.

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) hit a new 52-week high on Thursday after Barclays upgraded the stock from an equal weight rating to an overweight rating. Barclays now has a $10.00 price target on the stock, up from their previous price target of $7.00. Shoals Technologies Group traded as high as $8.85 and last traded at $8.53, with a volume of 160853 shares traded. The stock had previously closed at $7.93.

Several other research firms also recently weighed in on SHLS. UBS Group boosted their price target on Shoals Technologies Group from $7.00 to $9.00 and gave the company a "buy" rating in a research note on Wednesday. Jefferies Financial Group boosted their price objective on Shoals Technologies Group from $6.00 to $9.00 and gave the company a "buy" rating in a report on Monday, September 8th. JPMorgan Chase & Co. boosted their price objective on Shoals Technologies Group from $8.00 to $9.00 and gave the company an "overweight" rating in a report on Friday, September 19th. Guggenheim boosted their price objective on Shoals Technologies Group from $6.00 to $8.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, Wall Street Zen cut Shoals Technologies Group from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 17th. Fourteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $9.40.

Institutional Investors Weigh In On Shoals Technologies Group

A number of large investors have recently made changes to their positions in the stock. American Trust purchased a new stake in shares of Shoals Technologies Group in the second quarter valued at approximately $70,000. FORA Capital LLC grew its position in shares of Shoals Technologies Group by 288.5% in the second quarter. FORA Capital LLC now owns 59,558 shares of the company's stock valued at $253,000 after purchasing an additional 44,229 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Shoals Technologies Group by 468.3% in the second quarter. Tower Research Capital LLC TRC now owns 15,519 shares of the company's stock valued at $66,000 after purchasing an additional 12,788 shares in the last quarter. Redwood Grove Capital LLC grew its position in shares of Shoals Technologies Group by 8.3% in the second quarter. Redwood Grove Capital LLC now owns 3,264,805 shares of the company's stock valued at $13,875,000 after purchasing an additional 250,000 shares in the last quarter. Finally, Peconic Partners LLC grew its position in shares of Shoals Technologies Group by 79.8% in the second quarter. Peconic Partners LLC now owns 6,975,186 shares of the company's stock valued at $29,645,000 after purchasing an additional 3,095,186 shares in the last quarter.

Shoals Technologies Group Stock Up 9.4%

The company has a market capitalization of $1.45 billion, a PE ratio of 64.59, a price-to-earnings-growth ratio of 0.91 and a beta of 1.65. The company has a quick ratio of 1.64, a current ratio of 2.34 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average of $6.32 and a two-hundred day moving average of $5.11.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $110.84 million during the quarter, compared to analyst estimates of $104.87 million. Shoals Technologies Group had a return on equity of 7.57% and a net margin of 5.27%.The firm's revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 earnings per share. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts predict that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal 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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