Swedbank AB Has $7.23 Million Stock Holdings in Shoals Technologies Group, Inc. $SHLS

Swedbank AB grew its stake in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 7.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,099,445 shares of the company’s stock after purchasing an additional 74,900 shares during the period. Swedbank AB owned about 0.66% of Shoals Technologies Group worth $7,234,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC raised its holdings in Shoals Technologies Group by 57.7% during the 4th quarter. GAMMA Investing LLC now owns 3,756 shares of the company’s stock worth $32,000 after buying an additional 1,375 shares during the period. USA Financial Formulas acquired a new position in shares of Shoals Technologies Group in the fourth quarter worth about $49,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Shoals Technologies Group in the first quarter worth about $57,000. Tower Research Capital LLC TRC increased its position in shares of Shoals Technologies Group by 468.3% in the second quarter. Tower Research Capital LLC TRC now owns 15,519 shares of the company’s stock worth $66,000 after acquiring an additional 12,788 shares in the last quarter. Finally, Miller Howard Investments Inc. NY purchased a new position in shares of Shoals Technologies Group in the first quarter worth approximately $70,000.

Shoals Technologies Group Stock Down 0.6%

SHLS traded down $0.06 on Friday, reaching $10.02. 2,800,723 shares of the company traded hands, compared to its average volume of 5,302,291. The stock’s 50 day moving average price is $10.09 and its 200-day moving average price is $8.77. Shoals Technologies Group, Inc. has a 52-week low of $4.43 and a 52-week high of $13.18. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 50.10, a PEG ratio of 1.23 and a beta of 1.90. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.84 and a quick ratio of 1.07.

Shoals Technologies Group (NASDAQ:SHLS) last released its earnings results on Tuesday, May 5th. The company reported $0.07 earnings per share (EPS) for the quarter, topping 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%. The company’s revenue was up 74.4% on a year-over-year basis. On average, sell-side analysts expect that Shoals Technologies Group, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Guggenheim restated a “buy” rating on shares of Shoals Technologies Group in a research report on Friday, May 22nd. Roth Capital reiterated a “buy” rating on shares of Shoals Technologies Group in a research report on Thursday, July 2nd. Needham & Company LLC reissued a “buy” rating and set a $12.00 target price on shares of Shoals Technologies Group in a research note on Wednesday, May 6th. Weiss Ratings upgraded Shoals Technologies Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Finally, JPMorgan Chase & Co. raised their target price on Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Ten investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.79.

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 the business’s stock in a transaction dated 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 transaction, the insider owned 98,918 shares in the company, valued at $1,029,736.38. This trade represents a 9.18% decrease in their position. The SEC filing for this sale provides additional information. 0.81% of the stock is currently owned by company insiders.

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.