Shoals Technologies Group (NASDAQ:SHLS) Sets New 52-Week High - What's Next?

Key Points

• Shoals Technologies Group (NASDAQ:SHLS) achieved a new 52-week high of $10.64, closing at $10.13 with a significant trading volume of nearly 10 million shares.
• Multiple analysts have recently provided varied ratings for SHLS, with a consensus average rating of "Moderate Buy" and a price target of $7.47.
• The company's quarterly earnings reported an EPS of $0.10, exceeding expectations, with an 11.7% increase in revenue year-over-year.

Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $10.64 and last traded at $10.13, with a volume of 9951334 shares traded. The stock had previously closed at $9.25.

Analyst Ratings Changes

SHLS has been the subject of several recent analyst reports. Guggenheim lifted their price objective 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. Weiss Ratings reiterated a "hold (c)" rating on shares of Shoals Technologies Group in a research report on Tuesday. 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 downgraded Shoals Technologies Group from an "outperform" rating to a "neutral" rating and set a $7.00 target price for the company. in a research report on Monday, July 14th. Finally, Jefferies Financial Group lifted their target price 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 research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $7.47.

Shoals Technologies Group Price Performance

The company has a debt-to-equity ratio of 0.23, a current ratio of 2.34 and a quick ratio of 1.64. The firm has a fifty day moving average of $6.96 and a two-hundred day moving average of $5.47. The stock has a market capitalization of $1.70 billion, a P/E ratio of 77.93, a P/E/G ratio of 1.11 and a beta of 1.65.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last released 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 during the quarter, compared to the consensus estimate 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 quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 earnings per share. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, analysts predict that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

Hedge Funds Weigh In On Shoals Technologies Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in SHLS. Encompass Capital Advisors LLC purchased a new position in Shoals Technologies Group in the second quarter valued at about $56,120,000. Wellington Management Group LLP grew its stake in Shoals Technologies Group by 51.9% in the first quarter. Wellington Management Group LLP now owns 21,615,890 shares of the company's stock valued at $71,765,000 after purchasing an additional 7,382,548 shares during the last quarter. CenterBook Partners LP purchased a new position in Shoals Technologies Group in the first quarter valued at about $12,489,000. Peconic Partners LLC grew its stake in 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 during the last quarter. Finally, T. Rowe Price Investment Management Inc. purchased a new position in Shoals Technologies Group in the first quarter valued at about $7,712,000.

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.

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