Shoals Technologies Group’s (SHLS) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Shoals Technologies Group (NASDAQ:SHLS) in a research note released on Wednesday morning,Benzinga reports. The firm currently has a $12.00 price target on the stock.

A number of other equities research analysts also recently commented on SHLS. Guggenheim dropped their price objective on Shoals Technologies Group from $12.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Weiss Ratings lowered shares of Shoals Technologies Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, April 15th. Morgan Stanley lowered their target price on shares of Shoals Technologies Group from $9.50 to $8.50 and set an “equal weight” rating on the stock in a report on Wednesday, February 25th. Barclays cut their price target on Shoals Technologies Group from $10.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Finally, Royal Bank Of Canada cut their price target on Shoals Technologies Group from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Ten investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Shoals Technologies Group currently has an average rating of “Moderate Buy” and an average target price of $9.64.

Shoals Technologies Group Stock Performance

NASDAQ SHLS opened at $8.84 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.84 and a debt-to-equity ratio of 0.30. The company’s 50-day simple moving average is $6.75 and its 200 day simple moving average is $8.33. The stock has a market cap of $1.48 billion, a P/E ratio of 44.20, a PEG ratio of 0.89 and a beta of 1.74. Shoals Technologies Group has a twelve month low of $3.81 and a twelve month high of $11.36.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. Shoals Technologies Group had a net margin of 6.27% and a return on equity of 10.03%. The firm had revenue of $140.56 million for the quarter, compared to analysts’ expectations of $129.16 million. The firm’s quarterly revenue was up 74.4% compared to the same quarter last year. As a group, research analysts forecast that Shoals Technologies Group will post 0.37 earnings per share for the current fiscal year.

Insider Transactions at Shoals Technologies Group

In related news, CFO Dominic Bardos sold 54,449 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $8.48, for a total transaction of $461,727.52. Following the sale, the chief financial officer directly owned 394,979 shares in the company, valued at approximately $3,349,421.92. The trade was a 12.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Shoals Technologies Group

A number of large investors have recently bought and sold shares of SHLS. KBC Group NV bought a new stake in shares of Shoals Technologies Group in the 1st quarter worth approximately $30,000. GAMMA Investing LLC raised its stake in Shoals Technologies Group by 57.7% during the 4th 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 last quarter. USA Financial Formulas purchased a new position in shares of Shoals Technologies Group in the fourth quarter worth approximately $49,000. PNC Financial Services Group Inc. boosted its holdings in shares of Shoals Technologies Group by 378.0% in the first quarter. PNC Financial Services Group Inc. now owns 7,566 shares of the company’s stock worth $50,000 after buying an additional 5,983 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new position in Shoals Technologies Group in the 3rd quarter worth $54,000.

Key Stories Impacting Shoals Technologies Group

Here are the key news stories impacting Shoals Technologies Group this week:

• Positive Sentiment: UBS Group raised its price target on Shoals Technologies Group to $12 from $11 and reiterated a buy rating, signaling continued upside potential for the stock. Read More
• Positive Sentiment: Needham also initiated or maintained a buy rating, adding to the bullish analyst sentiment around the company. Read More
• Positive Sentiment: JPMorgan issued a positive forecast for Shoals Technologies Group, reinforcing expectations that the company can continue to perform well after its recent earnings beat and improved 2026 guidance. Read More
• Neutral Sentiment: Recent commentary focused on valuation after the earnings beat and upgraded guidance, suggesting investors are rechecking whether the stock’s rally is fully justified. Read More
• Negative Sentiment: CFO Dominic Bardos sold 54,449 shares in a disclosed SEC filing, trimming his stake by about 12%, which can sometimes be interpreted as a cautious signal by investors. Read More

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.