Analysts Set Shoals Technologies Group, Inc. (NASDAQ:SHLS) PT at $9.64

Shoals Technologies Group, Inc. (NASDAQ:SHLS) has been assigned a consensus rating of “Moderate Buy” from the seventeen brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $9.6429.

A number of research analysts recently commented on SHLS shares. Barclays reduced their target price on Shoals Technologies Group from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. Roth Mkm reduced their target price on Shoals Technologies Group from $15.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Wall Street Zen cut Shoals Technologies Group from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. JPMorgan Chase & Co. increased their target price on Shoals Technologies Group from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, Guggenheim reissued a “buy” rating on shares of Shoals Technologies Group in a research note on Friday, May 22nd.

Insider Buying and Selling

In related news, CFO Dominic Bardos sold 54,449 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $8.48, for a total value of $461,727.52. Following the transaction, the chief financial officer owned 394,979 shares of the company’s stock, valued at $3,349,421.92. This represents a 12.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Shoals Technologies Group

Several institutional investors have recently added to or reduced their stakes in SHLS. KBC Group NV purchased a new stake in Shoals Technologies Group during the first quarter valued at about $30,000. GAMMA Investing LLC boosted its position in Shoals Technologies Group by 57.7% during the fourth quarter. GAMMA Investing LLC now owns 3,756 shares of the company’s stock valued at $32,000 after buying an additional 1,375 shares during the period. USA Financial Formulas purchased a new stake in Shoals Technologies Group during the fourth quarter valued at about $49,000. PNC Financial Services Group Inc. boosted its position in Shoals Technologies Group by 378.0% during the first quarter. PNC Financial Services Group Inc. now owns 7,566 shares of the company’s stock valued at $50,000 after buying an additional 5,983 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Shoals Technologies Group during the first quarter valued at about $57,000.

Shoals Technologies Group Trading Down 15.3%

Shoals Technologies Group stock opened at $10.81 on Monday. The stock has a market cap of $1.81 billion, a P/E ratio of 54.05, a PEG ratio of 1.55 and a beta of 1.90. Shoals Technologies Group has a fifty-two week low of $3.99 and a fifty-two week high of $13.18. The firm’s fifty day moving average price is $8.59 and its 200-day moving average price is $8.46. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.07 and a current ratio of 1.84.

Shoals Technologies Group (NASDAQ:SHLS) last released its earnings results on Tuesday, May 5th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $140.56 million for the quarter, compared to analysts’ expectations of $129.16 million. Shoals Technologies Group had a return on equity of 10.03% and a net margin of 6.27%.The business’s quarterly revenue was up 74.4% on a year-over-year basis. Equities research analysts forecast that Shoals Technologies Group will post 0.34 earnings per share for the current fiscal year.

Shoals Technologies Group Company Profile

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.