Guggenheim Lifts PT on Shoals Technologies Group Inc. (SHLS) Following Q1

Shoals Technologies Group Inc. (NASDAQ:SHLS) is one of the best small cap tech stocks to buy according to hedge funds. On May 22, Guggenheim lifted the price target on Shoals Technologies Group Inc. (NASDAQ:SHLS) to $12 from $11 while maintaining a Buy rating on the shares. The firm updated its model to take into account the company’s fiscal Q1 earnings.

Is Shoals Technologies Group Inc. (SHLS) the Best Solar Stock to Buy in 2025?

Shoals Technologies Group Inc. (NASDAQ:SHLS) also received a rating update from Goldman Sachs on May 7, with the firm lifting the price target on the stock to $11 from $10 while maintaining a Buy rating on the shares. It told investors in a research note that Shoals Technologies Group Inc. (NASDAQ:SHLS) delivered solid fiscal Q1 results, with revenue surpassing expectations and EBITDA and EPS in line. These trends were supported by resilient utility-scale solar demand, as well as stronger-than-expected fiscal Q2 guidance and an improved FY26 revenue outlook. However, the firm also stated that margin recovery visibility remains a key focus given slightly softer gross margins in the quarter.

Shoals Technologies Group Inc. (NASDAQ:SHLS) provides electrical balance of system solutions for solar energy projects. Its EBOS components include cable assemblies, disconnects, inline fuses, combiners, recombiners, junction boxes, wireless monitoring systems, transition enclosures, and splice boxes.

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