Swedbank AB Has $975,000 Stock Position in Shoals Technologies Group, Inc. $SHLS

Swedbank AB lowered its stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 36.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 293,637 shares of the company’s stock after selling 166,738 shares during the quarter. Swedbank AB owned approximately 0.18% of Shoals Technologies Group worth $975,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Rhumbline Advisers increased its position in shares of Shoals Technologies Group by 2.5% in the first quarter. Rhumbline Advisers now owns 248,924 shares of the company’s stock valued at $826,000 after acquiring an additional 6,112 shares during the last quarter. Strs Ohio bought a new stake in Shoals Technologies Group in the first quarter valued at approximately $190,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Shoals Technologies Group by 8.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 517,507 shares of the company’s stock worth $1,718,000 after acquiring an additional 38,983 shares during the period. Caxton Associates LLP bought a new position in shares of Shoals Technologies Group during the 1st quarter worth approximately $854,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Shoals Technologies Group during the 1st quarter worth approximately $57,000.

Shoals Technologies Group Stock Up 0.4%

Shares of SHLS opened at $7.11 on Wednesday. Shoals Technologies Group, Inc. has a 52 week low of $2.71 and a 52 week high of $7.62. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 54.70, a PEG ratio of 0.87 and a beta of 1.63. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.64 and a current ratio of 2.34. The stock has a fifty day moving average of $5.94 and a 200-day moving average of $4.78.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on SHLS. Mizuho lowered Shoals Technologies Group from an “outperform” rating to a “neutral” rating and set a $7.00 target price on the stock. in a report on Monday, July 14th. Jefferies Financial Group boosted their target price on Shoals Technologies Group from $6.00 to $9.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Barclays boosted their target price on Shoals Technologies Group from $4.00 to $7.00 and gave the stock an “equal weight” rating in a report on Friday, July 18th. The Goldman Sachs Group boosted their target price on Shoals Technologies Group from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday, September 11th. Finally, Guggenheim boosted their target price on Shoals Technologies Group from $6.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Thirteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.20.

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.