Shoals Technologies Group, Inc. (NASDAQ:SHLS) Receives $9.71 Average Target Price from Analysts

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) have been given a consensus rating of “Moderate Buy” by the seventeen ratings firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $9.7857.

A number of analysts have commented on SHLS shares. Guggenheim restated a “buy” rating on shares of Shoals Technologies Group in a research note on Friday, May 22nd. JPMorgan Chase & Co. upped their price objective on shares of Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Jefferies Financial Group reduced their price objective on shares of Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. Barclays boosted their target price on shares of Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Finally, Needham & Company LLC restated a “buy” rating and issued a $12.00 target price on shares of Shoals Technologies Group in a report on Wednesday, May 6th.

Insider Transactions at Shoals Technologies Group

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

Institutional Investors Weigh In On Shoals Technologies Group

A number of institutional investors and hedge funds have recently bought and sold shares of SHLS. GAMMA Investing LLC boosted its holdings in Shoals Technologies Group by 57.7% during the 4th quarter. GAMMA Investing LLC now owns 3,756 shares of the company’s stock worth $32,000 after acquiring an additional 1,375 shares during the last quarter. KBC Group NV bought a new stake in shares of Shoals Technologies Group in the 1st quarter worth $30,000. USA Financial Formulas purchased a new stake in shares of Shoals Technologies Group in the fourth quarter valued at about $49,000. PNC Financial Services Group Inc. lifted its position in shares of Shoals Technologies Group by 378.0% during the first quarter. PNC Financial Services Group Inc. now owns 7,566 shares of the company’s stock valued at $50,000 after purchasing an additional 5,983 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new position in shares of Shoals Technologies Group during the fourth quarter valued at about $85,000.

Shoals Technologies Group Stock Down 1.7%

Shares of NASDAQ:SHLS opened at $9.95 on Friday. The business’s 50 day simple moving average is $9.80 and its two-hundred day simple moving average is $8.71. The firm has a market cap of $1.67 billion, a P/E ratio of 49.75, a PEG ratio of 1.23 and a beta of 1.90. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.07 and a current ratio of 1.84. Shoals Technologies Group has a 52-week low of $4.43 and a 52-week high of $13.18.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. Shoals Technologies Group had a return on equity of 10.03% and a net margin of 6.27%.The firm had revenue of $140.56 million during the quarter, compared to the consensus estimate of $129.16 million. The company’s quarterly revenue was up 74.4% on a year-over-year basis. As a group, research analysts forecast that Shoals Technologies Group will post 0.34 EPS for the current fiscal year.

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.