Shoals Technologies Group (NASDAQ:SHLS) Shares Up 10.1% - Still a Buy?

Key Points

• Shoals shares rose 10.1% to $7.565 on Wednesday, though trading was light at 683,805 shares—about an 86% decline from the average session volume.
• Analyst sentiment is mixed but leans positive with a consensus of "Moderate Buy" (10 Buys, 6 Holds, 1 Sell) and a consensus price target of $9.43, even as several firms recently cut ratings or lowered targets (e.g., Weiss to Sell; JPMorgan and Roth MKM trimmed targets).
• Fundamentals: Shoals reported Q1 EPS of $0.10 (missing the $0.14 estimate) while revenue beat at $148.33M, up 38.6% year‑over‑year; the company has a market cap of $1.26B, a P/E of ~37.5 and a PEG of 0.80.

Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) shares shot up 10.1% during trading on Wednesday . The company traded as high as $7.57 and last traded at $7.5650. 683,805 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 4,964,409 shares. The stock had previously closed at $6.87.

Wall Street Analyst Weigh In

A number of research firms recently commented on SHLS. Weiss Ratings cut Shoals Technologies Group from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, April 15th. Roth Mkm decreased their price objective on Shoals Technologies Group from $15.00 to $10.00 and set a "buy" rating on the stock in a report on Tuesday, February 24th. TD Cowen restated a "buy" rating on shares of Shoals Technologies Group in a research note on Tuesday, February 24th. JPMorgan Chase & Co. decreased their price target on Shoals Technologies Group from $11.00 to $9.00 and set an "overweight" rating on the stock in a research note on Thursday, April 16th. Finally, Wall Street Zen cut Shoals Technologies Group from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Ten equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Shoals Technologies Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $9.43.

Shoals Technologies Group Stock Up 9.2%

The business has a 50 day simple moving average of $7.16 and a 200 day simple moving average of $8.44. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.03 and a quick ratio of 1.32. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 37.48, a PEG ratio of 0.80 and a beta of 1.64.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.04). Shoals Technologies Group had a return on equity of 9.10% and a net margin of 7.06%.The company had revenue of $148.33 million for the quarter, compared to analysts' expectations of $144.52 million. During the same period in the prior year, the company posted $0.08 EPS. The firm's revenue was up 38.6% compared to the same quarter last year. As a group, equities analysts predict that Shoals Technologies Group, Inc. will post 0.35 earnings per share for the current fiscal year.

Institutional Trading of Shoals Technologies Group

A number of large investors have recently modified their holdings of the stock. OP Asset Management Ltd purchased a new stake in shares of Shoals Technologies Group during the first quarter worth $87,000. Miller Howard Investments Inc. NY purchased a new position in Shoals Technologies Group in the first quarter valued at $70,000. Cidel Asset Management Inc. increased its holdings in Shoals Technologies Group by 21.7% in the first quarter. Cidel Asset Management Inc. now owns 131,340 shares of the company's stock valued at $864,000 after buying an additional 23,434 shares during the last quarter. Hsbc Holdings PLC increased its holdings in Shoals Technologies Group by 45.4% in the fourth quarter. Hsbc Holdings PLC now owns 17,429 shares of the company's stock valued at $148,000 after buying an additional 5,440 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Shoals Technologies Group by 5.8% in the fourth quarter. Invesco Ltd. now owns 5,877,652 shares of the company's stock valued at $49,960,000 after buying an additional 323,831 shares during the last quarter.

About Shoals Technologies Group

Shoals Technologies Group, Inc is a leading provider of electrical balance-of-system (BOS) solutions for the solar energy industry. The company designs, engineers and manufactures a comprehensive portfolio of products, including junction boxes, combiner boxes, cable assemblies, power distribution units and monitoring systems. These components are critical to interconnecting photovoltaic modules, optimizing energy output and ensuring safe, reliable performance across solar installations.

Founded in 1996 and headquartered in Portland, Tennessee, Shoals has grown its manufacturing and operations footprint to serve customers around the globe.

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