Mercuria Capital Strategies LLC Acquires New Holdings in Shoals Technologies Group, Inc. $SHLS

Mercuria Capital Strategies LLC bought a new stake in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 300,000 shares of the company’s stock, valued at approximately $2,223,000. Shoals Technologies Group makes up about 2.9% of Mercuria Capital Strategies LLC’s portfolio, making the stock its 9th biggest position.

Several other large investors have also recently made changes to their positions in SHLS. Vanguard Personalized Indexing Management LLC grew its stake in Shoals Technologies Group by 14.1% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 16,616 shares of the company’s stock valued at $123,000 after purchasing an additional 2,047 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of Shoals Technologies Group by 13.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 20,200 shares of the company’s stock worth $86,000 after buying an additional 2,316 shares during the last quarter. AE Wealth Management LLC raised its stake in shares of Shoals Technologies Group by 8.6% during the 2nd quarter. AE Wealth Management LLC now owns 34,568 shares of the company’s stock worth $147,000 after acquiring an additional 2,743 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Shoals Technologies Group by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 195,828 shares of the company’s stock worth $832,000 after acquiring an additional 3,601 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Shoals Technologies Group by 19.5% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 30,908 shares of the company’s stock valued at $229,000 after acquiring an additional 5,050 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SHLS. Zacks Research downgraded Shoals Technologies Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Wall Street Zen lowered Shoals Technologies Group from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Roth Mkm lowered their price target on Shoals Technologies Group from $15.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, February 24th. Wells Fargo & Company cut their price objective on shares of Shoals Technologies Group from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 25th. Finally, BNP Paribas Exane upgraded shares of Shoals Technologies Group from an “underperform” rating to a “neutral” rating and set a $9.00 target price for the company in a research note on Wednesday, February 25th. Ten equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.71.

Shoals Technologies Group Stock Performance

Shares of NASDAQ SHLS opened at $5.75 on Tuesday. The company has a current ratio of 2.03, a quick ratio of 1.32 and a debt-to-equity ratio of 0.23. Shoals Technologies Group, Inc. has a 12 month low of $2.71 and a 12 month high of $11.36. The company has a 50 day simple moving average of $8.89 and a two-hundred day simple moving average of $8.57. The stock has a market cap of $962.84 million, a price-to-earnings ratio of 28.75, a PEG ratio of 0.69 and a beta of 1.77.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings data on Tuesday, February 24th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). Shoals Technologies Group had a return on equity of 9.10% and a net margin of 7.06%.The business had revenue of $148.33 million during the quarter, compared to analyst estimates of $144.52 million. During the same quarter in the previous year, the company earned $0.08 EPS. The firm’s revenue was up 38.6% compared to the same quarter last year. As a group, analysts predict that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

Shoals Technologies Group Profile

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.