Shoals Technologies Group (NASDAQ:SHLS) Shares Up 9.3% – What’s Next?

Shoals Technologies Group, Inc. (NASDAQ:SHLS) was up 9.3% during mid-day trading on Tuesday . The stock traded as high as $6.84 and last traded at $6.82. Approximately 2,315,040 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 4,909,286 shares. The stock had previously closed at $6.24.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Guggenheim cut their target price on shares of Shoals Technologies Group from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Citigroup decreased their target price on shares of Shoals Technologies Group from $11.00 to $8.50 and set a “neutral” rating on the stock in a research note on Thursday, February 26th. Barclays decreased their price target on Shoals Technologies Group from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Needham & Company LLC lowered their target price on shares of Shoals Technologies Group from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Finally, TD Cowen reiterated a “buy” rating on shares of Shoals Technologies Group in a research report on Tuesday, February 24th. 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, Shoals Technologies Group has a consensus rating of “Moderate Buy” and a consensus target price of $9.57.

Shoals Technologies Group Price Performance

The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.32 and a current ratio of 2.03. The firm has a fifty day simple moving average of $8.34 and a 200 day simple moving average of $8.53. The company has a market capitalization of $1.15 billion, a PE ratio of 34.27, a P/E/G ratio of 0.84 and a beta of 1.77.

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

Institutional Trading of Shoals Technologies Group

Several institutional investors have recently bought and sold shares of SHLS. GAMMA Investing LLC lifted its position in shares of Shoals Technologies Group by 57.7% in the fourth quarter. GAMMA Investing LLC now owns 3,756 shares of the company’s stock valued at $32,000 after acquiring an additional 1,375 shares in the last quarter. USA Financial Formulas purchased a new position in Shoals Technologies Group during the fourth quarter worth about $49,000. State of Alaska Department of Revenue purchased a new stake in Shoals Technologies Group in the third quarter valued at approximately $54,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Shoals Technologies Group in the 1st quarter valued at $57,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Shoals Technologies Group by 468.3% during the second quarter. Tower Research Capital LLC TRC now owns 15,519 shares of the company’s stock worth $66,000 after purchasing an additional 12,788 shares in the last quarter.

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.