Shoals Technologies Group (NASDAQ:SHLS) Raised to “Overweight” at Barclays

Barclays upgraded shares of Shoals Technologies Group (NASDAQ:SHLS) from an equal weight rating to an overweight rating in a report issued on Thursday, MarketBeat.com reports. They currently have $10.00 price target on the stock, up from their previous price target of $7.00.

A number of other equities analysts also recently issued reports on the company. Jefferies Financial Group increased their price objective on Shoals Technologies Group from $6.00 to $9.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Wall Street Zen downgraded shares of Shoals Technologies Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 17th. Guggenheim lifted their price target on shares of Shoals Technologies Group from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. UBS Group boosted their price objective on shares of Shoals Technologies Group from $7.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised their target price on shares of Shoals Technologies Group from $8.00 to $9.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Fourteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.40.

Shoals Technologies Group Stock Performance

Shares of SHLS opened at $8.50 on Thursday. The company has a 50-day simple moving average of $6.44 and a two-hundred day simple moving average of $5.19. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.34 and a quick ratio of 1.64. The firm has a market capitalization of $1.42 billion, a PE ratio of 65.39, a price-to-earnings-growth ratio of 1.04 and a beta of 1.65. Shoals Technologies Group has a one year low of $2.71 and a one year high of $9.22.

Shoals Technologies Group (NASDAQ:SHLS) last announced its earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.02. The firm had revenue of $110.84 million during the quarter, compared to analyst estimates of $104.87 million. Shoals Technologies Group had a return on equity of 7.57% and a net margin of 5.27%.The business’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 EPS. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, analysts anticipate that Shoals Technologies Group will post 0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Shoals Technologies Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP grew its position in Shoals Technologies Group by 51.9% during the first quarter. Wellington Management Group LLP now owns 21,615,890 shares of the company’s stock valued at $71,765,000 after buying an additional 7,382,548 shares during the period. Encompass Capital Advisors LLC purchased a new position in shares of Shoals Technologies Group during the 2nd quarter worth $56,120,000. Peconic Partners LLC boosted its stake in shares of Shoals Technologies Group by 79.8% during the 2nd quarter. Peconic Partners LLC now owns 6,975,186 shares of the company’s stock worth $29,645,000 after acquiring an additional 3,095,186 shares during the last quarter. Invesco Ltd. increased its stake in shares of Shoals Technologies Group by 5.8% in the 1st quarter. Invesco Ltd. now owns 6,791,182 shares of the company’s stock worth $22,547,000 after purchasing an additional 375,271 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Shoals Technologies Group by 3.6% in the 2nd quarter. Geode Capital Management LLC now owns 4,213,350 shares of the company’s stock worth $17,909,000 after purchasing an additional 146,628 shares in the last quarter.

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.