Shoals Technologies Group, Inc. (NASDAQ:SHLS) Receives $10.31 Average Price Target from Analysts

Shoals Technologies Group, Inc. (NASDAQ:SHLS) has earned a consensus recommendation of “Moderate Buy” from the sixteen analysts that are covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $10.4615.

A number of research analysts have recently commented on SHLS shares. Citigroup reiterated a “neutral” rating on shares of Shoals Technologies Group in a research note on Wednesday. Wells Fargo & Company boosted their price objective on Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 11th. UBS Group upped their target price on Shoals Technologies Group from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Jefferies Financial Group increased their target price on Shoals Technologies Group from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. lifted their price target 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.

Shoals Technologies Group Price Performance

SHLS stock opened at $9.89 on Tuesday. The company has a 50 day simple moving average of $10.40 and a 200 day simple moving average of $8.86. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 49.45, a P/E/G ratio of 1.27 and a beta of 1.90. Shoals Technologies Group has a 1 year low of $4.43 and a 1 year high of $13.18. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.84 and a quick ratio of 1.07.

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

Insider Buying and Selling

In related news, CFO Dominic Bardos sold 54,449 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $8.48, for a total value of $461,727.52. Following the completion of the transaction, the chief financial officer owned 394,979 shares in the company, valued at $3,349,421.92. This trade represents a 12.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bobbie Lee King, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $10.41, for a total transaction of $104,100.00. Following the sale, the insider directly owned 98,918 shares in the company, valued at $1,029,736.38. The trade was a 9.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.81% of the stock is owned by company insiders.

Institutional Trading of Shoals Technologies Group

Several institutional investors have recently modified their holdings of the business. Royal Bank of Canada increased its holdings in Shoals Technologies Group by 292.5% in the first quarter. Royal Bank of Canada now owns 106,531 shares of the company’s stock valued at $353,000 after purchasing an additional 79,392 shares during the period. AQR Capital Management LLC lifted its holdings in Shoals Technologies Group by 184.7% during the 1st quarter. AQR Capital Management LLC now owns 922,358 shares of the company’s stock worth $2,975,000 after buying an additional 598,407 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Shoals Technologies Group during the 1st quarter worth about $57,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Shoals Technologies Group by 8.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 517,507 shares of the company’s stock valued at $1,718,000 after buying an additional 38,983 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of Shoals Technologies Group by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 195,828 shares of the company’s stock valued at $832,000 after buying an additional 3,601 shares during the last quarter.

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.