Shoals Technologies Group (NASDAQ:SHLS) Stock Price Down 6.2% - Here's What Happened

Key Points

• Shoals Technologies Group's shares decreased by 6.2%, trading at about $6.70, significantly below its previous close of $7.14.
• Analysts have set varied price targets, with Guggenheim raising their target to $8.00 while BNP Paribas lowered theirs to $4.00, resulting in a consensus target price of $9.24 for the stock.
• The company reported $110.84 million in revenue for the last quarter, exceeding analyst expectations, and has a current ratio of 2.34 indicating good short-term financial health.

Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) dropped 6.2% during trading on Tuesday . The stock traded as low as $6.68 and last traded at $6.70. Approximately 2,144,369 shares changed hands during trading, a decline of 66% from the average daily volume of 6,325,067 shares. The stock had previously closed at $7.14.

Wall Street Analysts Forecast Growth

SHLS has been the subject of several recent analyst reports. Roth Capital raised Shoals Technologies Group from a "neutral" rating to a "buy" rating and set a $10.00 target price for the company in a research note on Thursday, August 7th. Jefferies Financial Group raised their target price on Shoals Technologies Group from $6.00 to $9.00 and gave the company a "buy" rating in a report on Monday, September 8th. Wall Street Zen lowered Shoals Technologies Group from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 17th. Mizuho lowered Shoals Technologies Group from an "outperform" rating to a "neutral" rating and set a $7.00 price target on the stock. in a report on Monday, July 14th. Finally, Guggenheim lifted their price target on Shoals Technologies Group from $6.00 to $8.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Shoals Technologies Group currently has an average rating of "Moderate Buy" and an average price target of $9.33.

Shoals Technologies Group Stock Performance

The stock has a market capitalization of $1.15 billion, a P/E ratio of 52.93, a price-to-earnings-growth ratio of 0.85 and a beta of 1.63. The company has a 50 day simple moving average of $5.89 and a 200-day simple moving average of $4.72. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.34 and a quick ratio of 1.64.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) 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 analyst estimates 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 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, equities analysts forecast that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

Hedge Funds Weigh In On Shoals Technologies Group

Several hedge funds have recently made changes to their positions in the stock. American Trust purchased a new position in shares of Shoals Technologies Group in the second quarter valued at $70,000. FORA Capital LLC grew its position in Shoals Technologies Group by 288.5% during the second quarter. FORA Capital LLC now owns 59,558 shares of the company's stock worth $253,000 after buying an additional 44,229 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Shoals Technologies Group by 468.3% during the second quarter. Tower Research Capital LLC TRC now owns 15,519 shares of the company's stock worth $66,000 after buying an additional 12,788 shares in the last quarter. Redwood Grove Capital LLC grew its position in Shoals Technologies Group by 8.3% during the second quarter. Redwood Grove Capital LLC now owns 3,264,805 shares of the company's stock worth $13,875,000 after buying an additional 250,000 shares in the last quarter. Finally, Peconic Partners LLC grew its position in Shoals Technologies Group by 79.8% during the second quarter. Peconic Partners LLC now owns 6,975,186 shares of the company's stock worth $29,645,000 after buying an additional 3,095,186 shares in the last quarter.

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.