Militia Capital Management LLC Buys Shares of 78,400 Shoals Technologies Group, Inc. $SHLS

Militia Capital Management LLC purchased a new stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS) during the first quarter, according to its most recent filing with the SEC. The firm purchased 78,400 shares of the company’s stock, valued at approximately $516,000.

Several other large investors have also recently made changes to their positions in SHLS. Edgestream Partners L.P. purchased a new position in Shoals Technologies Group in the first quarter valued at about $2,235,000. California State Teachers Retirement System raised its holdings in Shoals Technologies Group by 31.0% in the first quarter. California State Teachers Retirement System now owns 199,903 shares of the company’s stock worth $1,315,000 after purchasing an additional 47,318 shares in the last quarter. Redwood Grove Capital LLC lifted its position in shares of Shoals Technologies Group by 20.2% during the first quarter. Redwood Grove Capital LLC now owns 3,037,422 shares of the company’s stock valued at $19,986,000 after buying an additional 511,000 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Shoals Technologies Group by 46.0% during the first quarter. The Manufacturers Life Insurance Company now owns 73,662 shares of the company’s stock valued at $484,000 after buying an additional 23,200 shares during the last quarter. Finally, SummitTX Capital L.P. bought a new stake in shares of Shoals Technologies Group in the 1st quarter valued at about $1,574,000.

Wall Street Analyst Weigh In

SHLS has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 11th. JPMorgan Chase & Co. raised their target price on shares of Shoals Technologies Group from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $12.00 price target on shares of Shoals Technologies Group in a report on Wednesday, May 6th. The Goldman Sachs Group upped their price target on Shoals Technologies Group from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Finally, Citigroup reiterated a “neutral” rating on shares of Shoals Technologies Group in a report on Wednesday, July 22nd. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Shoals Technologies Group has an average rating of “Moderate Buy” and an average price target of $10.46.

Insider Transactions at Shoals Technologies Group

In related news, insider Bobbie Lee King, Jr. sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the insider owned 98,918 shares in the company, valued at approximately $1,029,736.38. This represents a 9.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 stock was sold at an average price of $8.48, for a total transaction of $461,727.52. Following the transaction, the chief financial officer directly owned 394,979 shares of the company’s stock, valued at $3,349,421.92. This represents a 12.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.81% of the company’s stock.

Shoals Technologies Group Stock Performance

Shares of SHLS opened at $9.37 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.07 and a current ratio of 1.84. The stock has a 50-day moving average of $10.28 and a two-hundred day moving average of $8.85. The stock has a market cap of $1.57 billion, a P/E ratio of 46.85, a P/E/G ratio of 1.06 and a beta of 1.93. Shoals Technologies Group, Inc. has a one year low of $4.43 and a one year high of $13.18.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings data 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. Shoals Technologies Group had a return on equity of 10.03% and a net margin of 6.27%.The business had revenue of $140.56 million for the quarter, compared to analyst estimates of $129.16 million. Shoals Technologies Group’s quarterly revenue was up 74.4% compared to the same quarter last year. As a group, research analysts predict that Shoals Technologies Group, Inc. will post 0.34 EPS for the current year.

About Shoals Technologies Group

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.