Shoals Technologies Group (NASDAQ:SHLS) Hits New 52-Week High - Still a Buy?

Key Points

• Shoals Technologies Group's stock reached a new 52-week high of $7.14 but last traded at $7.10, with significant trading volume of over 2.5 million shares.
• Analysts have mixed opinions, with Mizuho downgrading the stock to a "neutral" rating and other firms setting target prices ranging from $5.50 to $10.00, reflecting a consensus rating of "Moderate Buy".
• The company reported $0.10 EPS for the last quarter, exceeding estimates, and achieved an 11.7% year-over-year revenue growth.

Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $7.14 and last traded at $7.10, with a volume of 2551738 shares. The stock had previously closed at $6.72.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wall Street Zen downgraded Shoals Technologies Group from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 17th. Mizuho cut Shoals Technologies Group from an "outperform" rating to a "neutral" rating and set a $7.00 price objective on the stock. in a research note on Monday, July 14th. Roth Capital raised shares of Shoals Technologies Group from a "neutral" rating to a "buy" rating and set a $10.00 price objective on the stock in a report on Thursday, August 7th. BNP Paribas Exane lowered shares of Shoals Technologies Group from a "neutral" rating to an "underperform" rating and set a $4.00 target price for the company. in a research report on Thursday, May 15th. Finally, Barclays upped their price target on shares of Shoals Technologies Group from $4.00 to $7.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Fourteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $9.15.

Shoals Technologies Group Stock Up 0.1%

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 firm has a market capitalization of $1.20 billion, a PE ratio of 55.08, a PEG ratio of 0.88 and a beta of 1.63. The company's 50 day simple moving average is $5.74 and its 200-day simple moving average is $4.63.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.02. The firm had revenue of $110.84 million for the quarter, compared to analysts' expectations of $104.87 million. Shoals Technologies Group had a net margin of 5.27% and a return on equity of 7.57%. The business's quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the company posted $0.10 EPS. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, analysts forecast that Shoals Technologies Group, Inc. will post 0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Shoals Technologies Group

A number of large investors have recently added to or reduced their stakes in the business. American Trust purchased a new position in shares of Shoals Technologies Group during the second quarter valued at about $70,000. FORA Capital LLC grew its holdings in shares of Shoals Technologies Group by 288.5% during the second quarter. FORA Capital LLC now owns 59,558 shares of the company's stock valued at $253,000 after buying an additional 44,229 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Shoals Technologies Group by 468.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 15,519 shares of the company's stock worth $66,000 after purchasing an additional 12,788 shares in the last quarter. Redwood Grove Capital LLC grew its position in Shoals Technologies Group by 8.3% in the 2nd quarter. Redwood Grove Capital LLC now owns 3,264,805 shares of the company's stock worth $13,875,000 after purchasing an additional 250,000 shares during the period. Finally, Peconic Partners LLC grew its position in Shoals Technologies Group by 79.8% in the 2nd quarter. Peconic Partners LLC now owns 6,975,186 shares of the company's stock worth $29,645,000 after purchasing an additional 3,095,186 shares during the period.

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.