Is Shoals Technologies Group, Inc. (SHLS) The Cheap Solar Stock to Buy Now?

Shoals Technologies Group, Inc. (NASDAQ:SHLS) is among the 6 Cheap Solar Stocks to Buy Now.

On February 26, Vikram Bagri, an analyst at Citi, cut the price target on Shoals Technologies Group, Inc. (NASDAQ:SHLS) to $8.50 from $11, while maintaining a Neutral rating. As reported by TheFly, the firm appears positive on the shares following Q4 earnings but flags a limited pipeline of catalysts in the times ahead.

Jefferies also lowered its 2026 EBITDA forecast by 20%, as it noted that the market assumed the margin versus volume issue was addressed. That said, the firm cut its price target on Shoals Technologies Group, Inc. (NASDAQ:SHLS) to $10 from $12 and reaffirmed a Buy rating on February 25. The price trim is driven by a structural decline in gross margin, as reflected in the company’s results.

On the same day, UBS lowered the price target on Shoals Technologies Group, Inc. (NASDAQ:SHLS) to $11 from $12, due to gross margin headwinds stemming from intensifying competition, product mix adjustments, and rising input costs. The firm’s bullish stance, as reflected in its Buy rating, is driven by the potential for significant upside as demand for storage from data center customers escalates.

Shoals Technologies Group, Inc. (NASDAQ:SHLS), based in Tennessee, is a provider of electrical balance of system solutions used in the solar and battery storage industries worldwide.

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