Vanguard Group Inc. Raises Stock Holdings in Shoals Technologies Group, Inc. $SHLS

Vanguard Group Inc. boosted its position in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 2.3% in the third quarter, Holdings Channel.com reports. The firm owned 13,190,006 shares of the company’s stock after buying an additional 295,377 shares during the quarter. Vanguard Group Inc. owned about 0.08% of Shoals Technologies Group worth $97,738,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of SHLS. Cidel Asset Management Inc. grew its position in shares of Shoals Technologies Group by 9.2% in the 3rd quarter. Cidel Asset Management Inc. now owns 101,397 shares of the company’s stock worth $751,000 after buying an additional 8,522 shares during the period. Cookson Peirce & Co. Inc. purchased a new position in Shoals Technologies Group during the 3rd quarter valued at about $1,153,000. LSV Asset Management bought a new stake in Shoals Technologies Group during the third quarter worth about $423,000. Stratos Wealth Partners LTD. grew its holdings in Shoals Technologies Group by 41.1% in the third quarter. Stratos Wealth Partners LTD. now owns 33,252 shares of the company’s stock worth $246,000 after purchasing an additional 9,684 shares during the period. Finally, Allianz Asset Management GmbH grew its holdings in Shoals Technologies Group by 245.8% in the third quarter. Allianz Asset Management GmbH now owns 37,000 shares of the company’s stock worth $274,000 after purchasing an additional 26,300 shares during the period.

Analysts Set New Price Targets

A number of analysts have recently commented on SHLS shares. Morgan Stanley dropped their price target on Shoals Technologies Group from $9.50 to $8.50 and set an “equal weight” rating on the stock in a research report on Wednesday, February 25th. The Goldman Sachs Group reissued a “buy” rating on shares of Shoals Technologies Group in a report on Monday, February 9th. Citigroup cut their target price on Shoals Technologies Group from $11.00 to $8.50 and set a “neutral” rating on the stock in a research note on Thursday, February 26th. Wells Fargo & Company lowered their price target on Shoals Technologies Group from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 25th. Finally, Royal Bank Of Canada dropped their price target on shares of Shoals Technologies Group from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Ten equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Shoals Technologies Group presently has an average rating of “Moderate Buy” and a consensus price target of $9.71.

Shoals Technologies Group Stock Down 4.7%

SHLS stock opened at $5.85 on Friday. The stock has a market capitalization of $979.22 million, a P/E ratio of 29.25, a P/E/G ratio of 0.75 and a beta of 1.77. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.03 and a quick ratio of 1.32. Shoals Technologies Group, Inc. has a 1-year low of $2.71 and a 1-year high of $11.36. The business has a fifty day moving average price of $9.02 and a 200-day moving average price of $8.54.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings data on Tuesday, February 24th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). The business had revenue of $148.33 million during the quarter, compared to the consensus estimate of $144.52 million. Shoals Technologies Group had a return on equity of 9.10% and a net margin of 7.06%.Shoals Technologies Group’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 earnings per share. Equities analysts forecast 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.