Franklin Resources Inc. Sells 1,779,029 Shares of Shoals Technologies Group, Inc. $SHLS

Franklin Resources Inc. decreased its position in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 39.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,725,875 shares of the company’s stock after selling 1,779,029 shares during the period. Franklin Resources Inc. owned 1.63% of Shoals Technologies Group worth $11,585,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC increased its position in shares of Shoals Technologies Group by 951.1% during the first quarter. CWM LLC now owns 22,661 shares of the company’s stock valued at $75,000 after acquiring an additional 20,505 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Shoals Technologies Group by 26.0% during the 1st quarter. Victory Capital Management Inc. now owns 214,154 shares of the company’s stock valued at $711,000 after purchasing an additional 44,155 shares during the last quarter. AE Wealth Management LLC bought a new stake in shares of Shoals Technologies Group during the 1st quarter worth $106,000. Federated Hermes Inc. boosted its holdings in shares of Shoals Technologies Group by 5.5% in the 1st quarter. Federated Hermes Inc. now owns 1,787,007 shares of the company’s stock worth $5,933,000 after buying an additional 93,323 shares during the last quarter. Finally, XTX Topco Ltd boosted its holdings in shares of Shoals Technologies Group by 200.9% in the 1st quarter. XTX Topco Ltd now owns 129,178 shares of the company’s stock worth $429,000 after buying an additional 86,249 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have commented on SHLS shares. Barclays raised shares of Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $7.00 to $10.00 in a research report on Thursday, October 2nd. Roth Capital reaffirmed a “buy” rating and issued a $15.00 price target (up previously from $10.00) on shares of Shoals Technologies Group in a report on Wednesday, November 5th. Guggenheim increased their price objective on Shoals Technologies Group from $8.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, November 11th. Weiss Ratings restated a “hold (c)” rating on shares of Shoals Technologies Group in a research note on Tuesday, October 14th. Finally, The Goldman Sachs Group upped their price target on Shoals Technologies Group from $8.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Thirteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.84.

Shoals Technologies Group Price Performance

Shoals Technologies Group stock opened at $8.35 on Friday. The firm has a market capitalization of $1.40 billion, a P/E ratio of 41.73, a PEG ratio of 1.04 and a beta of 1.69. Shoals Technologies Group, Inc. has a one year low of $2.71 and a one year high of $11.36. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.19 and a quick ratio of 1.53. The business has a fifty day moving average price of $8.94 and a 200-day moving average price of $6.76.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.12. Shoals Technologies Group had a return on equity of 8.50% and a net margin of 7.66%.The business had revenue of $135.80 million for the quarter, compared to analysts’ expectations of $131.37 million. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, equities research analysts forecast 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.