Shoals Technologies Group, Inc. $SHLS Position Raised by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL increased its position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 83.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,025,812 shares of the company’s stock after buying an additional 465,968 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Shoals Technologies Group were worth $7,601,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Encompass Capital Advisors LLC bought a new stake in Shoals Technologies Group during the second quarter worth approximately $56,120,000. Vanguard Group Inc. raised its holdings in 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 raised its holdings in Shoals Technologies Group by 79.8% during the second 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. Invesco Ltd. raised its holdings in Shoals Technologies Group by 13.1% during the third quarter. Invesco Ltd. now owns 5,553,821 shares of the company’s stock worth $41,154,000 after purchasing an additional 644,379 shares in the last quarter. Finally, Erste Asset Management GmbH raised its holdings in 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 purchasing an additional 1,382,999 shares in the last quarter.

Shoals Technologies Group Price Performance

NASDAQ SHLS opened at $6.41 on Wednesday. The stock has a market capitalization of $1.07 billion, a P/E ratio of 32.05, a P/E/G ratio of 0.94 and a beta of 1.64. Shoals Technologies Group, Inc. has a 1 year low of $2.92 and a 1 year high of $11.36. The business’s fifty day moving average is $7.75 and its two-hundred day moving average is $8.50. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.32 and a current ratio of 2.03.

Shoals Technologies Group (NASDAQ:SHLS) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.04). Shoals Technologies Group had a net margin of 7.06% and a return on equity of 9.10%. The company had revenue of $148.33 million during the quarter, compared to the consensus estimate of $144.52 million. During the same period in the prior year, the company posted $0.08 EPS. Shoals Technologies Group’s quarterly revenue was up 38.6% on a year-over-year basis. On average, research analysts forecast that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Roth Mkm dropped their price target on Shoals Technologies Group from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. Guggenheim dropped their price target on Shoals Technologies Group from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. UBS Group dropped their price target on Shoals Technologies Group from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. BNP Paribas Exane raised Shoals Technologies Group from an “underperform” rating to a “neutral” rating and set a $9.00 price target on the stock in a report on Wednesday, February 25th. Finally, Royal Bank Of Canada dropped their price target on Shoals Technologies Group from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Ten investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Shoals Technologies Group currently has an average rating of “Moderate Buy” and an average target price of $9.57.

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.