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

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $10.00 price target on shares of Shoals Technologies Group in a research report on Wednesday, February 25th. Royal Bank Of Canada lowered their price objective on shares of Shoals Technologies Group from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Citigroup dropped 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 report on Thursday, February 26th. Needham & Company LLC cut their target price on shares of Shoals Technologies Group from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Finally, Zacks Research cut Shoals Technologies Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $9.71.

Shoals Technologies Group Stock Performance

Shares of SHLS stock opened at $5.85 on Friday. 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 $979.22 million, a price-to-earnings ratio of 29.25, a PEG ratio of 0.75 and a beta of 1.77. The company has a 50-day simple moving average of $9.02 and a 200 day simple moving average of $8.54. 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 (NASDAQ:SHLS) last released its quarterly earnings results on Tuesday, February 24th. 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 net margin of 7.06% and a return on equity of 9.10%. The company had revenue of $148.33 million during the quarter, compared to the consensus estimate of $144.52 million. During the same period in the prior year, the company earned $0.08 earnings per share. The firm’s revenue was up 38.6% compared to the same quarter last year. On average, sell-side analysts predict that Shoals Technologies Group will post 0.29 earnings per share for the current year.

Institutional Trading of Shoals Technologies Group

Several institutional investors have recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH increased its position 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 buying an additional 1,147 shares during the period. GAMMA Investing LLC boosted its position in shares of 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 acquiring an additional 1,375 shares during the period. Bank of Montreal Can grew its stake in shares of Shoals Technologies Group by 5.1% in the fourth quarter. Bank of Montreal Can now owns 33,510 shares of the company’s stock valued at $285,000 after acquiring an additional 1,620 shares in the last quarter. Federated Hermes Inc. increased its position in Shoals Technologies Group by 1.1% during the fourth quarter. Federated Hermes Inc. now owns 165,278 shares of the company’s stock worth $1,405,000 after acquiring an additional 1,812 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its position in Shoals Technologies Group by 14.1% during 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.

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.