Shoals Technologies Group (NASDAQ:SHLS) Upgraded to Overweight at Barclays

Key Points

• Shoals Technologies Group was upgraded to an "overweight" rating by Barclays, with a new price target of $10.00, indicating a potential upside of 26.10% from its current price.
• Other analysts are also optimistic, with UBS raising their price target to $9.00 and Roth Capital setting a target of $10.00, reflecting a general positive sentiment towards the stock.
• In its latest earnings report, Shoals Technologies Group posted a revenue of $110.84 million, exceeding expectations, and reported an EPS of $0.10, which also topped analyst estimates.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) was upgraded by analysts at Barclays from an "equal weight" rating to an "overweight" rating in a research note issued on Thursday,Benzinga reports. The brokerage currently has a $10.00 target price on the stock, up from their previous target price of $7.00. Barclays's price target suggests a potential upside of 26.10% from the company's current price.

SHLS has been the topic of several other reports. UBS Group upped their price objective on Shoals Technologies Group from $7.00 to $9.00 and gave the stock a "buy" rating in a report on Wednesday. Roth Capital raised Shoals Technologies Group from a "neutral" rating to a "buy" rating and set a $10.00 price objective on the stock in a research report on Thursday, August 7th. Guggenheim upped their price objective on Shoals Technologies Group from $6.00 to $8.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Wall Street Zen downgraded Shoals Technologies Group from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 17th. Finally, Jefferies Financial Group increased their price target 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 investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $9.40.

Shoals Technologies Group Trading Up 7.0%

Shares of NASDAQ:SHLS opened at $7.93 on Thursday. The stock has a 50 day moving average of $6.32 and a 200 day moving average of $5.11. The company has a market cap of $1.33 billion, a PE ratio of 61.00, a price-to-earnings-growth ratio of 0.91 and a beta of 1.65. The company has a current ratio of 2.34, a quick ratio of 1.64 and a debt-to-equity ratio of 0.23. Shoals Technologies Group has a 12-month low of $2.71 and a 12-month high of $8.20.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.02. Shoals Technologies Group had a return on equity of 7.57% and a net margin of 5.27%.The company had revenue of $110.84 million for the quarter, compared to analysts' expectations of $104.87 million. During the same period in the previous year, the firm earned $0.10 EPS. The firm's revenue was up 11.7% compared to the same quarter last year. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities research analysts expect that Shoals Technologies Group will post 0.29 EPS for the current year.

Institutional Investors Weigh In On Shoals Technologies Group

A number of institutional investors have recently modified their holdings of SHLS. Nisa Investment Advisors LLC grew its stake in shares of Shoals Technologies Group by 449.1% in the second 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 in the last quarter. Cerity Partners LLC acquired a new position in Shoals Technologies Group during the 1st quarter worth $43,000. MQS Management LLC acquired a new position in Shoals Technologies Group during the 1st quarter worth $43,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Shoals Technologies Group during the 1st quarter worth about $44,000. Finally, Virtu Financial LLC acquired a new position in shares of Shoals Technologies Group during the 1st quarter worth about $46,000.

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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