Teacher Retirement System of Texas Invests $81,000 in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Teacher Retirement System of Texas acquired a new stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 24,369 shares of the company’s stock, valued at approximately $81,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. American Trust bought a new position in Shoals Technologies Group during the fourth quarter valued at about $72,000. 49 Wealth Management LLC purchased a new stake in Shoals Technologies Group in the 4th quarter worth approximately $74,000. State of Wyoming boosted its holdings in Shoals Technologies Group by 250.7% in the 4th quarter. State of Wyoming now owns 15,117 shares of the company’s stock valued at $84,000 after purchasing an additional 10,806 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Shoals Technologies Group by 20.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 15,525 shares of the company’s stock worth $86,000 after purchasing an additional 2,652 shares during the period. Finally, Cibc World Markets Corp purchased a new stake in Shoals Technologies Group in the fourth quarter valued at approximately $87,000.

Shoals Technologies Group Stock Performance

Shares of SHLS opened at $5.64 on Tuesday. Shoals Technologies Group, Inc. has a one year low of $2.71 and a one year high of $7.00. The stock has a 50-day moving average of $5.17 and a two-hundred day moving average of $4.39. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.58 and a current ratio of 2.34. The stock has a market cap of $942.90 million, a P/E ratio of 47.00, a P/E/G ratio of 0.75 and a beta of 1.59.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). Shoals Technologies Group had a net margin of 4.90% and a return on equity of 7.63%. The business had revenue of $80.36 million during the quarter, compared to analyst estimates of $74.66 million. During the same period in the previous year, the business posted $0.07 earnings per share. The firm’s revenue for the quarter was down 11.2% on a year-over-year basis. As a group, research analysts predict that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SHLS. Guggenheim raised their price target on shares of Shoals Technologies Group from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Citigroup boosted their price target on Shoals Technologies Group from $4.50 to $5.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Jefferies Financial Group raised shares of Shoals Technologies Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $4.90 to $7.20 in a report on Monday, July 7th. BNP Paribas reissued an “underperform” rating and set a $4.00 price target (down previously from $4.50) on shares of Shoals Technologies Group in a research report on Thursday, May 15th. Finally, The Goldman Sachs Group upped their target price on shares of Shoals Technologies Group from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $8.77.

About Shoals Technologies Group

Shoals Technologies Group, Inc provides electrical balance of system (EBOS) solutions and components for solar, battery energy, and electric vehicle (EV) charging applications in the United States and internationally. The company designs, manufactures, and sells system solutions for both homerun and combine-as-you-go wiring architectures, as well as offers technical support services.