Shoals Technologies Group (NASDAQ:SHLS) Receives Hold (C) Rating from Weiss Ratings

Key Points

• Shoals Technologies Group has been assigned a "hold (C)" rating by Weiss Ratings, while multiple brokerages have increased their price targets and issued buy or overweight ratings.
• The stock price rose by 13.5% recently, reaching $10.50, and has a market capitalization of $1.76 billion.
• Shoals Technologies Group reported earnings of $0.10 EPS for the last quarter, exceeding estimates, and their revenue increased 11.7% year-over-year.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report)'s stock had its "hold (c)" rating reissued by analysts at Weiss Ratings in a research note issued to investors on Tuesday,Weiss Ratings reports.

A number of other brokerages have also recently weighed in on SHLS. JPMorgan Chase & Co. increased their price target on Shoals Technologies Group from $8.00 to $9.00 and gave the stock an "overweight" rating in a research report on Friday, September 19th. Barclays upgraded shares of Shoals Technologies Group from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $7.00 to $10.00 in a research note on Thursday, October 2nd. UBS Group raised their price target on Shoals Technologies Group from $7.00 to $9.00 and gave the stock a "buy" rating in a research report on Wednesday, October 1st. The Goldman Sachs Group boosted their target price on shares of Shoals Technologies Group from $7.00 to $8.00 and gave the stock a "buy" rating in a report on Thursday, September 11th. Finally, Jefferies Financial Group increased their price target on Shoals Technologies Group from $6.00 to $9.00 and gave the stock a "buy" rating in a research report on Monday, September 8th. Fourteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $7.47.

Shoals Technologies Group Stock Up 13.5%

SHLS stock traded up $1.25 during trading on Tuesday, hitting $10.50. 5,141,440 shares of the company's stock were exchanged, compared to its average volume of 6,268,534. The business has a 50-day moving average price of $6.85 and a two-hundred day moving average price of $5.44. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 80.28, a PEG ratio of 1.05 and a beta of 1.65. Shoals Technologies Group has a 52-week low of $2.71 and a 52-week high of $10.52. 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 quarterly earnings results on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.08 by $0.02. The firm had revenue of $110.84 million during the quarter, compared to the consensus estimate of $104.87 million. Shoals Technologies Group had a net margin of 5.27% and a return on equity of 7.57%. Shoals Technologies Group's revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $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 will post 0.29 EPS for the current year.

Institutional Trading of Shoals Technologies Group

Several large investors have recently bought and sold shares of SHLS. Wealth Enhancement Advisory Services LLC bought a new position in Shoals Technologies Group during the 1st quarter valued at about $65,000. Janney Montgomery Scott LLC boosted its stake in shares of Shoals Technologies Group by 187.9% during the first quarter. Janney Montgomery Scott LLC now owns 269,096 shares of the company's stock valued at $893,000 after purchasing an additional 175,627 shares during the period. Comerica Bank raised its holdings in shares of Shoals Technologies Group by 23.6% in the first quarter. Comerica Bank now owns 200,976 shares of the company's stock valued at $667,000 after acquiring an additional 38,328 shares in the last quarter. American Century Companies Inc. grew its stake in Shoals Technologies Group by 617.2% in the first quarter. American Century Companies Inc. now owns 1,206,172 shares of the company's stock valued at $4,004,000 after purchasing an additional 1,037,997 shares during the last quarter. Finally, CenterBook Partners LP purchased a new stake in Shoals Technologies Group during the 1st quarter worth approximately $12,489,000.

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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