Shoals Technologies Group, Inc. (NASDAQ:SHLS) Short Interest Update

Shoals Technologies Group, Inc. (NASDAQ:SHLS) was the recipient of a large decrease in short interest in the month of February. As of February 13th, there was short interest totaling 10,920,858 shares, a decrease of 14.5% from the January 29th total of 12,769,824 shares. Based on an average trading volume of 4,092,264 shares, the days-to-cover ratio is currently 2.7 days. Approximately 6.6% of the company’s shares are sold short. Approximately 6.6% of the company’s shares are sold short. Based on an average trading volume of 4,092,264 shares, the days-to-cover ratio is currently 2.7 days.

Shoals Technologies Group Stock Up 6.1%

Shares of NASDAQ:SHLS traded up $0.36 during trading on Wednesday, reaching $6.27. 800,146 shares of the stock were exchanged, compared to its average volume of 4,995,063. Shoals Technologies Group has a 1-year low of $2.71 and a 1-year high of $11.36. The stock has a fifty day moving average of $9.14 and a two-hundred day moving average of $8.57. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.03 and a quick ratio of 1.32. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 31.35, a price-to-earnings-growth ratio of 0.72 and a beta of 1.77.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). Shoals Technologies Group had a net margin of 7.06% and a return on equity of 9.10%. The business had revenue of $148.33 million for the quarter, compared to the consensus estimate of $144.52 million. During the same quarter last year, the firm posted $0.08 EPS. The business’s revenue for the quarter was up 38.6% compared to the same quarter last year. Research analysts anticipate that Shoals Technologies Group will post 0.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on SHLS shares. BNP Paribas Exane raised Shoals Technologies Group from an “underperform” rating to a “neutral” rating and set a $9.00 target price on the stock in a report on Wednesday, February 25th. Morgan Stanley lowered their price objective on Shoals Technologies Group from $9.50 to $8.50 and set an “equal weight” rating for the company in a research report on Wednesday, February 25th. Jefferies Financial Group reiterated a “buy” rating and issued a $10.00 target price on shares of Shoals Technologies Group in a report on Wednesday, February 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Shoals Technologies Group in a research report on Friday, January 9th. Finally, Needham & Company LLC dropped their price target on shares of Shoals Technologies Group from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.71.

Insider Buying and Selling at Shoals Technologies Group

In related news, CFO Dominic Bardos sold 4,170 shares of the business’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $7.83, for a total value of $32,651.10. Following the sale, the chief financial officer owned 412,289 shares of the company’s stock, valued at $3,228,222.87. The trade was a 1.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Institutional Trading of Shoals Technologies Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Invesco Ltd. boosted its position in shares of Shoals Technologies Group by 5.8% during the fourth quarter. Invesco Ltd. now owns 5,877,652 shares of the company’s stock valued at $49,960,000 after buying an additional 323,831 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in Shoals Technologies Group by 20.3% during 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 during the last quarter. nVerses Capital LLC bought a new stake in shares of Shoals Technologies Group in the 4th quarter worth $127,000. Polymer Capital Management US LLC purchased a new stake in shares of Shoals Technologies Group in the fourth quarter valued at about $201,000. Finally, Interval Partners LP purchased a new stake in shares of Shoals Technologies Group in the fourth quarter valued at about $1,357,000.

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.