Shoals Technologies Group (NASDAQ:SHLS) Releases Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Shoals Technologies Group (NASDAQ:SHLS) announced its quarterly earnings data on Tuesday. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04), FiscalAI reports. The company had revenue of $148.33 million during the quarter, compared to analysts’ expectations of $144.52 million. Shoals Technologies Group had a net margin of 7.66% and a return on equity of 8.50%. The business’s revenue for the quarter was up 38.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 earnings per share.

Shoals Technologies Group Stock Performance

SHLS opened at $9.90 on Tuesday. The firm has a fifty day moving average price of $9.45 and a 200 day moving average price of $8.51. Shoals Technologies Group has a 1 year low of $2.71 and a 1 year high of $11.36. The stock has a market cap of $1.66 billion, a P/E ratio of 49.50, a P/E/G ratio of 0.90 and a beta of 1.70. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.19 and a quick ratio of 1.53.

Insiders Place Their Bets

In other news, CFO Dominic Bardos sold 4,170 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $7.83, for a total transaction of $32,651.10. Following the sale, the chief financial officer directly owned 412,289 shares in the company, valued at $3,228,222.87. This trade represents a 1.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Shoals Technologies Group

Hedge funds have recently bought and sold shares of the business. CIBC Asset Management Inc acquired a new stake in Shoals Technologies Group in the fourth quarter valued at approximately $85,000. Cibc World Markets Corp purchased a new position in shares of Shoals Technologies Group during the 4th quarter valued at approximately $95,000. Boothbay Fund Management LLC acquired a new stake in Shoals Technologies Group in the 4th quarter valued at $105,000. Mercer Global Advisors Inc. ADV increased its holdings in Shoals Technologies Group by 20.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,670 shares of the company’s stock worth $116,000 after acquiring an additional 2,304 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new stake in Shoals Technologies Group in the 4th quarter worth $120,000.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SHLS. Zacks Research cut shares of Shoals Technologies Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Morgan Stanley reaffirmed an “equal weight” rating and set a $9.50 target price (down previously from $11.00) on shares of Shoals Technologies Group in a report on Tuesday, December 16th. The Goldman Sachs Group reiterated a “buy” rating on shares of Shoals Technologies Group in a research report on Monday, February 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Shoals Technologies Group in a research report on Friday, January 9th. Finally, Wells Fargo & Company upped their price objective on shares of Shoals Technologies Group from $6.00 to $10.00 and gave the company an “equal weight” rating in a report on Thursday, November 6th. Ten analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $9.40.

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.