Shoals Technologies Group (NASDAQ:SHLS) Shares Gap Down After Earnings Miss

Shoals Technologies Group, Inc. (NASDAQ:SHLS)’s share price gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $9.90, but opened at $8.28. Shoals Technologies Group shares last traded at $7.7250, with a volume of 5,362,831 shares trading hands.

The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). Shoals Technologies Group had a return on equity of 8.50% and a net margin of 7.66%.The business had revenue of $148.33 million for the quarter, compared to analysts’ expectations of $144.52 million. During the same period in the previous year, the company earned $0.08 earnings per share. Shoals Technologies Group’s quarterly revenue was up 38.6% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SHLS. Wells Fargo & Company boosted their price objective on Shoals Technologies Group from $6.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Shoals Technologies Group in a report on Friday, January 9th. Zacks Research lowered shares of Shoals Technologies Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Roth Mkm reissued a “buy” rating and issued a $15.00 target price (up previously from $10.00) on shares of Shoals Technologies Group in a report on Wednesday, November 5th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Shoals Technologies Group in a report on Monday, February 9th. Ten investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Shoals Technologies Group has an average rating of “Moderate Buy” and a consensus price target of $9.40.

Insiders Place Their Bets

In other Shoals Technologies Group news, CFO Dominic Bardos sold 4,170 shares of the firm’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $7.83, for a total transaction of $32,651.10. Following the transaction, the chief financial officer directly owned 412,289 shares of the company’s stock, valued at approximately $3,228,222.87. This trade represents a 1.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Shoals Technologies Group

Several institutional investors have recently added to or reduced their stakes in SHLS. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of Shoals Technologies Group by 3.7% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 32,055 shares of the company’s stock valued at $274,000 after purchasing an additional 1,147 shares during the period. GAMMA Investing LLC lifted its position in Shoals Technologies Group by 57.7% in the fourth quarter. GAMMA Investing LLC now owns 3,756 shares of the company’s stock valued at $32,000 after purchasing an additional 1,375 shares during the period. Bank of Montreal Can boosted its holdings in Shoals Technologies Group by 5.1% in the 4th quarter. Bank of Montreal Can now owns 33,510 shares of the company’s stock valued at $285,000 after purchasing an additional 1,620 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Shoals Technologies Group by 1.1% in the 4th quarter. Federated Hermes Inc. now owns 165,278 shares of the company’s stock valued at $1,405,000 after purchasing an additional 1,812 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in Shoals Technologies Group by 14.1% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 16,616 shares of the company’s stock worth $123,000 after purchasing an additional 2,047 shares during the period.

Shoals Technologies Group Trading Down 23.0%

The company has a current ratio of 2.19, a quick ratio of 1.53 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average price of $9.45 and a 200-day moving average price of $8.51. The firm has a market capitalization of $1.28 billion, a PE ratio of 38.39, a P/E/G ratio of 0.90 and a beta of 1.70.

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.