Shoals Technologies Group, Inc. (NASDAQ:SHLS) Short Interest Update

Shoals Technologies Group, Inc. (NASDAQ:SHLS) was the target of a significant growth in short interest in February. As of February 27th, there was short interest totaling 13,848,021 shares, a growth of 26.8% from the February 12th total of 10,920,858 shares. Currently, 8.3% of the shares of the stock are short sold. Based on an average daily volume of 7,292,283 shares, the short-interest ratio is presently 1.9 days. Based on an average daily volume of 7,292,283 shares, the short-interest ratio is presently 1.9 days. Currently, 8.3% of the shares of the stock are short sold.

Institutional Investors Weigh In On Shoals Technologies Group

Large investors have recently added to or reduced their stakes in the business. Invesco Ltd. grew its position in shares of Shoals Technologies Group by 5.8% during the fourth quarter. Invesco Ltd. now owns 5,877,652 shares of the company’s stock worth $49,960,000 after buying an additional 323,831 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of Shoals Technologies Group by 20.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,670 shares of the company’s stock valued at $116,000 after buying an additional 2,304 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Shoals Technologies Group during the fourth quarter worth about $127,000. Polymer Capital Management US LLC purchased a new stake in shares of Shoals Technologies Group in the 4th quarter valued at about $201,000. Finally, Interval Partners LP purchased a new stake in shares of Shoals Technologies Group in the 4th quarter valued at about $1,357,000.

Shoals Technologies Group Trading Up 0.6%

Shares of Shoals Technologies Group stock traded up $0.04 on Monday, reaching $6.17. The company had a trading volume of 1,322,177 shares, compared to its average volume of 5,047,130. The firm’s 50 day moving average price is $8.69 and its two-hundred day moving average price is $8.55. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.32 and a current ratio of 2.03. Shoals Technologies Group has a 52-week low of $2.92 and a 52-week high of $11.36. The firm has a market cap of $1.03 billion, a PE ratio of 30.88, a PEG ratio of 0.87 and a beta of 1.77.

Shoals Technologies Group (NASDAQ:SHLS) last posted its quarterly earnings data 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). The company had revenue of $148.33 million for the quarter, compared to analysts’ expectations of $144.52 million. Shoals Technologies Group had a return on equity of 9.10% and a net margin of 7.06%.The business’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.08 EPS. Sell-side analysts predict that Shoals Technologies Group will post 0.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

SHLS has been the topic of a number of analyst reports. Citigroup reduced 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 cut their price target on shares of Shoals Technologies Group from $10.00 to $9.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. Jefferies Financial Group reduced their price target on shares of Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, March 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Shoals Technologies Group in a report on Friday, January 9th. Finally, Wells Fargo & Company cut their target price on Shoals Technologies Group from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 25th. Ten analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Shoals Technologies Group presently has a consensus rating of “Moderate Buy” and an average target price of $9.57.

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.