DekaBank Deutsche Girozentrale Sells 2,198 Shares of Shoals Technologies Group, Inc. $SHLS

DekaBank Deutsche Girozentrale lessened its holdings in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 7.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,805 shares of the company’s stock after selling 2,198 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Shoals Technologies Group were worth $110,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SHLS. Wealth Enhancement Advisory Services LLC bought a new position in shares of Shoals Technologies Group during the 1st quarter valued at about $65,000. Janney Montgomery Scott LLC lifted its stake in Shoals Technologies Group by 187.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 269,096 shares of the company’s stock valued at $893,000 after acquiring an additional 175,627 shares in the last quarter. Cidel Asset Management Inc. lifted its stake in Shoals Technologies Group by 17.0% in the 1st quarter. Cidel Asset Management Inc. now owns 68,852 shares of the company’s stock valued at $229,000 after acquiring an additional 9,982 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in Shoals Technologies Group in the 1st quarter valued at approximately $81,000. Finally, Stratos Wealth Partners LTD. lifted its stake in Shoals Technologies Group by 17.2% in the 1st quarter. Stratos Wealth Partners LTD. now owns 23,313 shares of the company’s stock valued at $77,000 after acquiring an additional 3,415 shares in the last quarter.

Shoals Technologies Group Stock Down 2.0%

SHLS stock opened at $10.54 on Tuesday. The company has a current ratio of 2.34, a quick ratio of 1.64 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $1.76 billion, a PE ratio of 81.08, a PEG ratio of 1.29 and a beta of 1.65. Shoals Technologies Group, Inc. has a 1-year low of $2.71 and a 1-year high of $11.31. The business’s 50 day simple moving average is $7.95 and its 200 day simple moving average is $5.93.

Shoals Technologies Group (NASDAQ:SHLS) last posted its earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, topping 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 analyst estimates of $104.87 million. During the same period in the previous year, the firm earned $0.10 EPS. The firm’s 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.

Analyst Upgrades and Downgrades

Several research firms have commented on SHLS. UBS Group boosted their target price on Shoals Technologies Group from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Jefferies Financial Group boosted their price target on Shoals Technologies Group from $6.00 to $9.00 and gave the stock a “buy” rating in a research report on Monday, September 8th. Guggenheim boosted their price target on Shoals Technologies Group from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Needham & Company LLC initiated coverage on Shoals Technologies Group in a research report on Wednesday, October 22nd. They set a “buy” rating and a $12.00 price target on the stock. Finally, Roth Capital raised Shoals Technologies Group from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

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.