Portolan Capital Management LLC Makes New $6.04 Million Investment in Shoals Technologies Group, Inc. $SHLS

Portolan Capital Management LLC purchased a new stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS) in the third quarter, Holdings Channel.com reports. The firm purchased 815,205 shares of the company’s stock, valued at approximately $6,041,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Encompass Capital Advisors LLC acquired a new position in Shoals Technologies Group in the second quarter valued at approximately $56,120,000. Vanguard Group Inc. boosted its position in shares of Shoals Technologies Group by 2.3% during the third quarter. Vanguard Group Inc. now owns 13,190,006 shares of the company’s stock worth $97,738,000 after purchasing an additional 295,377 shares in the last quarter. Peconic Partners LLC increased its holdings in shares of Shoals Technologies Group by 79.8% in the second quarter. Peconic Partners LLC now owns 6,975,186 shares of the company’s stock worth $29,645,000 after acquiring an additional 3,095,186 shares in the last quarter. Invesco Ltd. lifted its stake in Shoals Technologies Group by 13.1% in the third quarter. Invesco Ltd. now owns 5,553,821 shares of the company’s stock valued at $41,154,000 after buying an additional 644,379 shares in the last quarter. Finally, Erste Asset Management GmbH raised its holdings in shares of Shoals Technologies Group by 44.1% during the third quarter. Erste Asset Management GmbH now owns 4,516,372 shares of the company’s stock worth $33,873,000 after acquiring an additional 1,382,999 shares during the period.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Barclays dropped their price target on Shoals Technologies Group from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. UBS Group dropped their target price on Shoals Technologies Group from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. The Goldman Sachs Group restated a “buy” rating on shares of Shoals Technologies Group in a research note on Monday, February 9th. Wall Street Zen cut shares of Shoals Technologies Group from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Guggenheim lowered their price objective on shares of Shoals Technologies Group from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $9.57.

Shoals Technologies Group Stock Performance

SHLS opened at $6.13 on Friday. The business’s 50-day simple moving average is $8.69 and its 200 day simple moving average is $8.53. Shoals Technologies Group, Inc. has a 52-week low of $2.92 and a 52-week high of $11.36. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.32 and a current ratio of 2.03. The firm has a market capitalization of $1.03 billion, a PE ratio of 30.65, a PEG ratio of 0.87 and a beta of 1.77.

Shoals Technologies Group (NASDAQ:SHLS) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $148.33 million for the quarter, compared to analyst estimates of $144.52 million. During the same period last year, the firm earned $0.08 EPS. The firm’s revenue for the quarter was up 38.6% compared to the same quarter last year. As a group, sell-side analysts expect that Shoals Technologies Group, Inc. will post 0.29 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.