VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Shoals Technologies Group, Inc. $SHLS

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 116,087 shares of the company’s stock, valued at approximately $493,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.07% of Shoals Technologies Group as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Cerity Partners LLC bought a new stake in shares of Shoals Technologies Group in the 1st quarter valued at $43,000. MQS Management LLC bought a new stake in Shoals Technologies Group during the 1st quarter valued at $43,000. Caitong International Asset Management Co. Ltd bought a new stake in Shoals Technologies Group during the 1st quarter valued at $44,000. Virtu Financial LLC bought a new stake in Shoals Technologies Group during the 1st quarter valued at $46,000. Finally, Vanguard Personalized Indexing Management LLC increased its stake in Shoals Technologies Group by 43.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,569 shares of the company’s stock valued at $62,000 after purchasing an additional 4,412 shares in the last quarter.

Shoals Technologies Group Trading Up 4.2%

Shares of SHLS opened at $10.75 on Friday. The business’s 50-day moving average price is $7.86 and its 200-day moving average price is $5.87. Shoals Technologies Group, Inc. has a twelve month low of $2.71 and a twelve month high of $11.31. The stock has a market cap of $1.80 billion, a PE ratio of 82.70, a P/E/G ratio of 1.29 and a beta of 1.65. 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. The company had revenue of $110.84 million for the quarter, compared to analysts’ expectations of $104.87 million. Shoals Technologies Group had a net margin of 5.27% and a return on equity of 7.57%. Shoals Technologies Group’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 earnings per share. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts forecast that Shoals Technologies Group, Inc. will post 0.29 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on SHLS shares. Guggenheim boosted their price target on shares of Shoals Technologies Group from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Roth Capital raised shares of Shoals Technologies Group from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Thursday, August 7th. 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. Morgan Stanley lifted their price objective on shares of Shoals Technologies Group from $7.00 to $11.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $8.00.

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.