Shoals Technologies Group, Inc. $SHLS Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lessened its position in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 19.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 13,752,775 shares of the company’s stock after selling 3,410,808 shares during the period. Vanguard Group Inc. owned approximately 8.24% of Shoals Technologies Group worth $45,659,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. acquired a new stake in shares of Shoals Technologies Group in the first quarter valued at about $5,350,000. Goodlander Investment Management LLC purchased a new position in Shoals Technologies Group during the 4th quarter valued at about $8,295,000. Wellington Management Group LLP increased its holdings in Shoals Technologies Group by 8.6% during the 4th quarter. Wellington Management Group LLP now owns 14,233,342 shares of the company’s stock valued at $78,710,000 after acquiring an additional 1,125,938 shares in the last quarter. Royce & Associates LP grew its holdings in shares of Shoals Technologies Group by 519.8% during the first quarter. Royce & Associates LP now owns 1,053,662 shares of the company’s stock worth $3,498,000 after buying an additional 883,662 shares in the last quarter. Finally, Encompass Capital Advisors LLC grew its holdings in shares of Shoals Technologies Group by 14.5% during the fourth quarter. Encompass Capital Advisors LLC now owns 5,410,245 shares of the company’s stock worth $29,919,000 after buying an additional 683,642 shares in the last quarter.

Shoals Technologies Group Stock Performance

SHLS stock opened at $6.80 on Tuesday. The company has a market capitalization of $1.14 billion, a P/E ratio of 52.31, a PEG ratio of 0.79 and a beta of 1.61. The company has a 50-day simple moving average of $5.43 and a 200 day simple moving average of $4.47. Shoals Technologies Group, Inc. has a fifty-two week low of $2.71 and a fifty-two week high of $7.00. The company has a quick ratio of 1.64, a current ratio of 2.34 and a debt-to-equity ratio of 0.23.

Shoals Technologies Group (NASDAQ:SHLS) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.02. Shoals Technologies Group had a net margin of 5.27% and a return on equity of 7.57%. The business had revenue of $110.84 million during the quarter, compared to the consensus estimate of $104.87 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side analysts predict that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SHLS. UBS Group lowered their price target on shares of Shoals Technologies Group from $7.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. BNP Paribas reaffirmed an “underperform” rating and set a $4.00 price target (down from $4.50) on shares of Shoals Technologies Group in a research report on Thursday, May 15th. The Goldman Sachs Group boosted their target price on shares of Shoals Technologies Group from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. BNP Paribas Exane cut shares of Shoals Technologies Group from a “neutral” rating to an “underperform” rating and set a $4.00 target price on the stock. in a research report on Thursday, May 15th. Finally, Wall Street Zen lowered shares of Shoals Technologies Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 17th. Fourteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $9.15.

Shoals Technologies Group Profile

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.