Shoals Technologies Group, Inc. (NASDAQ:SHLS) Sees Large Drop in Short Interest

Shoals Technologies Group, Inc. (NASDAQ:SHLS) saw a significant decline in short interest during the month of February. As of February 13th, there was short interest totaling 10,920,858 shares, a decline of 14.5% from the January 29th total of 12,769,824 shares. Based on an average daily volume of 4,092,264 shares, the short-interest ratio is currently 2.7 days. Currently, 6.6% of the shares of the stock are short sold. Currently, 6.6% of the shares of the stock are short sold. Based on an average daily volume of 4,092,264 shares, the short-interest ratio is currently 2.7 days.

Shoals Technologies Group Stock Performance

Shares of Shoals Technologies Group stock opened at $6.14 on Thursday. The company has a quick ratio of 1.32, a current ratio of 2.03 and a debt-to-equity ratio of 0.23. The stock’s fifty day moving average is $9.08 and its two-hundred day moving average is $8.55. Shoals Technologies Group has a 52 week low of $2.71 and a 52 week high of $11.36. The company has a market capitalization of $1.03 billion, a PE ratio of 30.70, a price-to-earnings-growth ratio of 0.72 and a beta of 1.77.

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

Analysts Set New Price Targets

Several brokerages have weighed in on SHLS. Barclays reduced their price objective on Shoals Technologies Group from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Shoals Technologies Group in a research report on Friday, January 9th. Roth Mkm lowered their price target on Shoals Technologies Group from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Citigroup dropped their price objective on shares of Shoals Technologies Group from $11.00 to $8.50 and set a “neutral” rating for the company in a research note on Thursday, February 26th. Finally, Morgan Stanley reduced 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 research note on Wednesday, February 25th. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.71.

Insider Transactions at Shoals Technologies Group

In other news, CFO Dominic Bardos sold 4,170 shares of the business’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $7.83, for a total value of $32,651.10. Following the sale, the chief financial officer directly owned 412,289 shares in the company, valued at $3,228,222.87. The trade was a 1.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.67% of the stock is currently owned by insiders.

Institutional Trading of Shoals Technologies Group

A number of large investors have recently modified their holdings of SHLS. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Shoals Technologies Group by 3.7% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 32,055 shares of the company’s stock worth $274,000 after purchasing an additional 1,147 shares during the period. GAMMA Investing LLC grew its position in shares of 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 buying an additional 1,375 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Shoals Technologies Group by 5.1% during the fourth quarter. Bank of Montreal Can now owns 33,510 shares of the company’s stock valued at $285,000 after buying an additional 1,620 shares during the period. Federated Hermes Inc. raised its holdings in shares of Shoals Technologies Group by 1.1% in the fourth quarter. Federated Hermes Inc. now owns 165,278 shares of the company’s stock valued at $1,405,000 after acquiring an additional 1,812 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in Shoals Technologies Group by 14.1% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 16,616 shares of the company’s stock worth $123,000 after acquiring an additional 2,047 shares during the period.

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.