Shoals Technologies Group, Inc. $SHLS Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its holdings in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 75.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 177,831 shares of the company’s stock after selling 554,817 shares during the period. SG Americas Securities LLC’s holdings in Shoals Technologies Group were worth $1,170,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of SHLS. Hsbc Holdings PLC boosted its stake in shares of Shoals Technologies Group by 45.4% during the fourth quarter. Hsbc Holdings PLC now owns 17,429 shares of the company’s stock worth $148,000 after buying an additional 5,440 shares during the period. Invesco Ltd. increased its position in Shoals Technologies Group by 5.8% in the 4th quarter. Invesco Ltd. now owns 5,877,652 shares of the company’s stock valued at $49,960,000 after acquiring an additional 323,831 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in Shoals Technologies Group by 20.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,670 shares of the company’s stock valued at $116,000 after acquiring an additional 2,304 shares during the last quarter. nVerses Capital LLC purchased a new stake in Shoals Technologies Group during the 4th quarter valued at approximately $127,000. Finally, Polymer Capital Management US LLC purchased a new stake in Shoals Technologies Group during the 4th quarter valued at approximately $201,000.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SHLS. Wells Fargo & Company lifted their target price 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. Citigroup upped their price target on Shoals Technologies Group from $8.50 to $9.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Needham & Company LLC reiterated a “buy” rating and issued a $12.00 price objective on shares of Shoals Technologies Group in a research report on Wednesday, May 6th. Roth Mkm reiterated a “buy” rating on shares of Shoals Technologies Group in a research report on Thursday. Finally, Barclays boosted their price objective on shares of Shoals Technologies Group from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Ten investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $9.79.

Insider Activity at Shoals Technologies Group

In other Shoals Technologies Group news, CFO Dominic Bardos sold 54,449 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $8.48, for a total transaction of $461,727.52. Following the sale, the chief financial officer directly owned 394,979 shares in the company, valued at approximately $3,349,421.92. The trade was a 12.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bobbie Lee King, Jr. sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were 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 in the company, valued at $1,029,736.38. This trade represents a 9.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.81% of the company’s stock.

Shoals Technologies Group Stock Performance

Shares of SHLS opened at $9.95 on Friday. Shoals Technologies Group, Inc. has a twelve month low of $4.43 and a twelve month high of $13.18. The company has a current ratio of 1.84, a quick ratio of 1.07 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $1.67 billion, a P/E ratio of 49.75, a PEG ratio of 1.21 and a beta of 1.90. The firm’s 50-day moving average is $9.85 and its two-hundred day moving average is $8.72.

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