Shoals Technologies Group (NASDAQ:SHLS) Stock Price Down 5.2% - What's Next?

Key Points

• Shoals Technologies Group stock fell 5.2% to $8.45 during Friday's trading, reflecting decreased investor confidence as trading volume remained below average.
• Analysts are varied in their outlooks; while Goldman Sachs raised the price target to $8.00 and maintained a "buy" rating, Wall Street Zen downgraded to a "buy" from "strong-buy."
• The company reported a quarterly earnings per share of $0.10, exceeding the consensus estimate, with revenues up 11.7% year-over-year.

Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) shares fell 5.2% during trading on Friday . The company traded as low as $8.43 and last traded at $8.45. 6,141,078 shares traded hands during trading, a decline of 1% from the average session volume of 6,224,428 shares. The stock had previously closed at $8.91.

Analysts Set New Price Targets

A number of research firms have recently commented on SHLS. The Goldman Sachs Group lifted their target price on Shoals Technologies Group from $7.00 to $8.00 and gave the stock a "buy" rating in a research report on Thursday, September 11th. Wall Street Zen lowered Shoals Technologies Group from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 17th. JPMorgan Chase & Co. raised their price target on Shoals Technologies Group from $8.00 to $9.00 and gave the stock an "overweight" rating in a report on Friday, September 19th. Weiss Ratings reissued a "hold (c-)" rating on shares of Shoals Technologies Group in a report on Saturday, September 27th. Finally, Jefferies Financial Group raised their price target on Shoals Technologies Group from $6.00 to $9.00 and gave the stock a "buy" rating in a report on Monday, September 8th. Fourteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $9.40.

Shoals Technologies Group Trading Down 4.6%

The business has a 50 day moving average of $6.44 and a 200-day moving average of $5.18. The company has a current ratio of 2.34, a quick ratio of 1.64 and a debt-to-equity ratio of 0.23. The stock has a market cap of $1.42 billion, a PE ratio of 65.39, a price-to-earnings-growth ratio of 1.09 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 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.02. The business 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 business's revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 EPS. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, analysts anticipate that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

Institutional Trading of Shoals Technologies Group

Several large investors have recently added to or reduced their stakes in SHLS. Nisa Investment Advisors LLC boosted its position in Shoals Technologies Group by 449.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,226 shares of the company's stock valued at $31,000 after buying an additional 5,910 shares during the last quarter. Savant Capital LLC purchased a new position in Shoals Technologies Group in the 2nd quarter valued at about $50,000. Ethic Inc. purchased a new position in Shoals Technologies Group in the 2nd quarter valued at about $54,000. Cerity Partners LLC purchased a new position in Shoals Technologies Group in the 1st quarter valued at about $43,000. Finally, MQS Management LLC purchased a new position in Shoals Technologies Group in the 1st quarter valued at about $43,000.

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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