10 Worst Performing Solar Stocks to Buy Now

6. Shoals Technologies Group Inc. (NASDAQ:SHLS)

6-Month Performance as of February 27: -27.30%

Number of Hedge Fund Holders: 31

Shoals Technologies Group Inc. (NASDAQ:SHLS) designs, manufactures, and sells electrical balance of system (EBOS) solutions and components for solar, battery energy, and EV charging applications globally. It offers combiners, connectors, monitoring systems, and EV-specific solutions like power centers and raceways, alongside technical support and solar operations and maintenance software.

Its main business is providing electrical components for large solar projects. In Q4 2024, it made $107 million in revenue and booked $145 million in new orders, totaling $635 million in backlog. 2024 was tough due to project delays, but the company focused on improving its business. It launched new products, expanded into new markets like smaller solar projects and battery storage, and won international deals. It also consolidated factories into a new facility in Tennessee.

Shoals Technologies Group Inc. (NASDAQ:SHLS) is focused on growing in the US, expanding internationally, developing new products, and entering new markets like battery storage and data centers. It booked over $2.5 billion in potential projects in 2024 and diversified its customer base. It won $8 million in new international projects, ending with $86 million in international backlog. For Q1 2025, the company expects $70-80 million in revenue. For the full year, it expects $410-450 million.