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Dominic Bardos, the Chief Financial Officer of Shoals Technologies Group , Inc. (NASDAQ:SHLS), has recently acquired 35,000 shares of the company’s Class A Common Stock. The shares were purchased at a price of $2.80 each, resulting in a total transaction value of $98,000. Following this acquisition, Bardos holds a total of 418,217 shares directly. According to InvestingPro data, this insider purchase comes as the stock trades near its 52-week low of $2.71, with management showing confidence through active share buybacks. This transaction was reported in a recent SEC filing dated March 12, 2025. Shoals Technologies, based in Portland, Tennessee, is known for its work in the semiconductors and related devices sector. The company maintains strong financials with a current ratio of 2.33 and operates with moderate debt levels. InvestingPro analysis indicates the stock is currently undervalued, with 15+ additional exclusive insights available to subscribers through their comprehensive Pro Research Report.
In other recent news, Shoals Technologies Group reported its fourth-quarter earnings, revealing adjusted earnings per share of $0.08, which fell short of analyst expectations by $0.01. The company recorded revenue of $107 million, surpassing the anticipated $101.98 million, but reflecting an 18% decline from the previous year. Looking ahead, Shoals Technologies provided guidance that significantly underperformed Wall Street projections, forecasting first-quarter 2025 revenue between $70-80 million, well below the $109.04 million consensus estimate. For the full year 2025, the company expects revenue in the range of $410-450 million, compared to analyst expectations of $443.2 million.
In another development, Shoals Technologies changed its independent registered public accounting firm, appointing Ernst & Young LLP to audit its consolidated financial statements for the fiscal year ending December 31, 2025. This decision followed the dismissal of BDO USA, P.C., with no disagreements or reportable events reported between the company and BDO. Additionally, Jefferies analyst Julian Dumoulin-Smith adjusted the price target for Shoals Technologies shares, lowering it to $3.40 from $4.60, while maintaining a Hold rating. The analyst cited a mixed near-term outlook and potential risks from project pushouts as influencing factors.
Despite these challenges, Shoals Technologies’ backlog and awarded orders increased by 6.5% from the previous quarter, totaling $634.7 million. Oppenheimer analyst Colin Rusch reiterated an Outperform rating with a $10.00 price target, noting that while some aspects of the guidance might underwhelm investors, the 2025 guidance is fully covered above the midpoint with existing orders.
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