Shoals Technologies Group (NASDAQ:SHLS) Hits New 12-Month High - What's Next?

Key Points

• Shoals Technologies Group's stock reached a new 52-week high at $8.20, closing at $7.70 with a trading volume of over 6.7 million shares.
• Analysts have shown optimism, with multiple firms increasing their price targets, some even raising it to as high as $9.00, while the stock carries an average rating of "Moderate Buy".
• The company reported earnings of $0.10 per share for the last quarter, exceeding expectations with revenues rising 11.7% year-over-year.

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as $8.20 and last traded at $7.70, with a volume of 6782388 shares. The stock had previously closed at $7.20.

Analyst Upgrades and Downgrades

SHLS has been the topic of several research reports. Barclays upped their target price on Shoals Technologies Group from $4.00 to $7.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Jefferies Financial Group increased their price objective on Shoals Technologies Group from $6.00 to $9.00 and gave the stock a "buy" rating in a report on Monday, September 8th. The Goldman Sachs Group increased their price target on shares of Shoals Technologies Group from $7.00 to $8.00 and gave the stock a "buy" rating in a research note on Thursday, September 11th. Guggenheim increased their price target on shares of Shoals Technologies Group from $6.00 to $8.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, 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. Thirteen analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $9.15.

Shoals Technologies Group Price Performance

The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 59.24, a price-to-earnings-growth ratio of 0.88 and a beta of 1.63. The stock has a fifty day simple moving average of $6.13 and a 200-day simple moving average of $4.95. 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 (NASDAQ:SHLS - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.02. The firm had revenue of $110.84 million for 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 company's revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 EPS. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities research analysts expect that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

Institutional Trading of Shoals Technologies Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC grew its position in Shoals Technologies Group by 449.1% during the second quarter. Nisa Investment Advisors LLC now owns 7,226 shares of the company's stock worth $31,000 after buying an additional 5,910 shares in the last quarter. MQS Management LLC acquired a new stake in shares of Shoals Technologies Group during the 1st quarter worth approximately $43,000. Cerity Partners LLC acquired a new stake in shares of Shoals Technologies Group during the 1st quarter worth approximately $43,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Shoals Technologies Group during the 1st quarter worth approximately $44,000. Finally, Virtu Financial LLC acquired a new stake in shares of Shoals Technologies Group during the 1st quarter worth approximately $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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