Equities Analysts Issue Forecasts for SHLS FY2025 Earnings

Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) - Cantor Fitzgerald issued their FY2025 earnings per share (EPS) estimates for shares of Shoals Technologies Group in a note issued to investors on Tuesday, January 21st. Cantor Fitzgerald analyst D. Soderberg anticipates that the company will post earnings of $0.33 per share for the year. The consensus estimate for Shoals Technologies Group's current full-year earnings is $0.29 per share.

Other equities analysts have also recently issued research reports about the company. Bank of America initiated coverage on Shoals Technologies Group in a report on Monday, November 25th. They issued a "buy" rating and a $6.00 price target on the stock. Truist Financial dropped their price target on shares of Shoals Technologies Group from $8.00 to $7.00 and set a "buy" rating for the company in a research note on Thursday, January 16th. Wells Fargo & Company started coverage on shares of Shoals Technologies Group in a research report on Monday, October 14th. They set an "equal weight" rating and a $46.00 target price for the company. TD Cowen raised their price target on Shoals Technologies Group from $9.50 to $11.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. cut their target price on Shoals Technologies Group from $14.00 to $12.00 and set an "overweight" rating on the stock in a research note on Thursday, October 17th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $10.03.

Shoals Technologies Group Trading Down 4.4 %

SHLS traded down $0.21 during mid-day trading on Wednesday, reaching $4.42. The stock had a trading volume of 3,248,177 shares, compared to its average volume of 7,095,671. The firm's fifty day simple moving average is $5.07 and its two-hundred day simple moving average is $5.51. The stock has a market capitalization of $735.98 million, a P/E ratio of 22.08, a P/E/G ratio of 0.54 and a beta of 1.64. Shoals Technologies Group has a 52 week low of $4.07 and a 52 week high of $17.50. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 2.08.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.02). The company had revenue of $102.20 million for the quarter, compared to analyst estimates of $98.86 million. Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. Shoals Technologies Group's revenue for the quarter was down 23.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.16 earnings per share.

Hedge Funds Weigh In On Shoals Technologies Group

Several hedge funds have recently modified their holdings of SHLS. FMR LLC boosted its position in Shoals Technologies Group by 48.9% during the third quarter. FMR LLC now owns 5,806 shares of the company's stock valued at $33,000 after purchasing an additional 1,906 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Shoals Technologies Group in the 2nd quarter valued at approximately $64,000. Empirical Asset Management LLC bought a new position in shares of Shoals Technologies Group in the fourth quarter valued at $59,000. TrinityPoint Wealth LLC bought a new position in shares of Shoals Technologies Group in the third quarter valued at $60,000. Finally, American Trust acquired a new position in Shoals Technologies Group during the second quarter worth $68,000.

Insider Buying and Selling at Shoals Technologies Group

In other Shoals Technologies Group news, CEO Brandon Moss purchased 22,300 shares of the business's stock in a transaction on Thursday, November 21st. The shares were purchased at an average cost of $4.55 per share, with a total value of $101,465.00. Following the transaction, the chief executive officer now directly owns 593,700 shares of the company's stock, valued at $2,701,335. This represents a 3.90 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 6,460 shares of company stock worth $30,271. Corporate insiders own 0.36% of the company's stock.

Shoals Technologies Group Company Profile

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.