Precision Wealth Strategies LLC Acquires Shares of 65,054 Shoals Technologies Group, Inc. $SHLS

Precision Wealth Strategies LLC bought a new position in Shoals Technologies Group, Inc. (NASDAQ:SHLS) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 65,054 shares of the company’s stock, valued at approximately $428,000.

Other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Shoals Technologies Group by 151.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,753,784 shares of the company’s stock valued at $108,410,000 after acquiring an additional 7,685,515 shares during the period. First Trust Advisors LP lifted its position in shares of Shoals Technologies Group by 1,493.0% in the 4th quarter. First Trust Advisors LP now owns 6,331,682 shares of the company’s stock valued at $53,819,000 after acquiring an additional 5,934,223 shares in the last quarter. Castle Hook Partners LP acquired a new position in Shoals Technologies Group in the 4th quarter worth approximately $40,095,000. Amundi boosted its stake in Shoals Technologies Group by 175.2% in the 4th quarter. Amundi now owns 5,776,766 shares of the company’s stock worth $49,075,000 after purchasing an additional 3,677,713 shares during the period. Finally, Peconic Partners LLC grew its position in Shoals Technologies Group by 79.8% during the 2nd quarter. Peconic Partners LLC now owns 6,975,186 shares of the company’s stock worth $29,645,000 after purchasing an additional 3,095,186 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SHLS. Weiss Ratings raised shares of Shoals Technologies Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, July 6th. Citigroup raised their target price on Shoals Technologies Group from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Barclays lifted their price target on Shoals Technologies Group from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Friday, June 26th. UBS Group upped their price target on Shoals Technologies Group from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $12.00 price objective on shares of Shoals Technologies Group in a research note on Wednesday, May 6th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $10.31.

Insider Buying and Selling at Shoals Technologies Group

In related news, CFO Dominic Bardos sold 54,449 shares of the 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 completion of the sale, the chief financial officer directly owned 394,979 shares in the company, valued at approximately $3,349,421.92. This trade represents a 12.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bobbie Lee King, Jr. sold 10,000 shares of Shoals Technologies Group 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 sale, the insider directly owned 98,918 shares of the company’s stock, valued at approximately $1,029,736.38. The trade was a 9.18% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.81% of the stock is currently owned by company insiders.

Shoals Technologies Group Stock Down 2.2%

Shoals Technologies Group stock opened at $10.30 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 debt-to-equity ratio of 0.30, a quick ratio of 1.07 and a current ratio of 1.84. The firm has a market cap of $1.72 billion, a PE ratio of 51.50, a P/E/G ratio of 1.25 and a beta of 1.90. The firm’s 50 day moving average price is $10.32 and its two-hundred day moving average price is $8.82.

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