Voya Investment Management LLC Has $151,000 Position in Shoals Technologies Group, Inc. $SHLS

Voya Investment Management LLC lowered its holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 11.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,380 shares of the company’s stock after selling 6,141 shares during the quarter. Voya Investment Management LLC’s holdings in Shoals Technologies Group were worth $151,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of SHLS. Cerity Partners LLC acquired a new stake in Shoals Technologies Group in the 1st quarter valued at $43,000. MQS Management LLC acquired a new stake in Shoals Technologies Group in the 1st quarter valued at $43,000. Caitong International Asset Management Co. Ltd acquired a new stake in Shoals Technologies Group in the 1st quarter valued at $44,000. Virtu Financial LLC purchased a new position in Shoals Technologies Group during the 1st quarter worth $46,000. Finally, FORA Capital LLC purchased a new position in Shoals Technologies Group during the 1st quarter worth $51,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of Shoals Technologies Group from $6.00 to $9.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Wall Street Zen downgraded shares of Shoals Technologies Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 17th. Mizuho downgraded shares of Shoals Technologies Group from an “outperform” rating to a “neutral” rating and set a $7.00 price objective on the stock. in a report on Monday, July 14th. The Goldman Sachs Group lifted their price objective on shares of 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 lifted their price objective on shares of 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 given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Shoals Technologies Group has an average rating of “Moderate Buy” and an average target price of $9.15.

Shoals Technologies Group Trading Down 1.2%

Shares of Shoals Technologies Group stock opened at $7.41 on Wednesday. Shoals Technologies Group, Inc. has a 52-week low of $2.71 and a 52-week high of $8.20. The stock’s 50-day simple moving average is $6.28 and its 200 day simple moving average is $5.09. The stock has a market capitalization of $1.24 billion, a P/E ratio of 57.00, a P/E/G ratio of 0.92 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.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. Shoals Technologies Group had a return on equity of 7.57% and a net margin of 5.27%.The business had revenue of $110.84 million for the quarter, compared to analysts’ expectations of $104.87 million. During the same period in the previous year, the business posted $0.10 EPS. The firm’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. As a group, research analysts anticipate that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

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.