4,717,105 Shares in Shoals Technologies Group, Inc. $SHLS Purchased by Castle Hook Partners LP

Castle Hook Partners LP acquired a new position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 4,717,105 shares of the company’s stock, valued at approximately $40,095,000.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Shoals Technologies Group by 57.7% during the fourth quarter. GAMMA Investing LLC now owns 3,756 shares of the company’s stock worth $32,000 after buying an additional 1,375 shares in the last quarter. USA Financial Formulas bought a new position in shares of Shoals Technologies Group during the fourth quarter worth about $49,000. CIBC Asset Management Inc bought a new position in shares of Shoals Technologies Group during the fourth quarter worth about $85,000. Cibc World Markets Corp bought a new position in shares of Shoals Technologies Group during the fourth quarter worth about $95,000. Finally, Boothbay Fund Management LLC bought a new position in shares of Shoals Technologies Group during the fourth quarter worth about $105,000.

Insider Buying and Selling

In other news, insider Bobbie Lee King, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $10.41, for a total value of $104,100.00. Following the completion of the sale, the insider directly owned 98,918 shares of the company’s stock, valued at $1,029,736.38. This trade represents a 9.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Dominic Bardos sold 54,449 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $8.48, for a total value of $461,727.52. Following the completion of the sale, the chief financial officer directly owned 394,979 shares of the company’s stock, valued at approximately $3,349,421.92. The trade was a 12.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.81% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $12.00 price objective on shares of Shoals Technologies Group in a report on Wednesday, May 6th. Wall Street Zen cut Shoals Technologies Group from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Wells Fargo & Company raised their price target on Shoals Technologies Group from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Thursday, June 11th. JPMorgan Chase & Co. raised their price target on Shoals Technologies Group from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, BNP Paribas Exane upgraded Shoals Technologies Group from an “underperform” rating to a “neutral” rating and set a $9.00 price target for the company in a research note on Wednesday, February 25th. Ten equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.71.

Shoals Technologies Group Stock Down 5.2%

SHLS stock opened at $9.44 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.84 and a debt-to-equity ratio of 0.30. The business has a 50 day moving average price of $9.12 and a two-hundred day moving average price of $8.57. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 47.20, a P/E/G ratio of 1.21 and a beta of 1.90. Shoals Technologies Group, Inc. has a twelve month low of $3.99 and a twelve month high of $13.18.

Shoals Technologies Group (NASDAQ:SHLS) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The firm had revenue of $140.56 million during the quarter, compared to the consensus estimate of $129.16 million. Shoals Technologies Group had a return on equity of 10.03% and a net margin of 6.27%.The firm’s quarterly revenue was up 74.4% on a year-over-year basis. Analysts anticipate that Shoals Technologies Group, Inc. will post 0.34 EPS for the current fiscal 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.