Harbor Capital Advisors Inc. Has $436,000 Stock Position in Shoals Technologies Group, Inc. $SHLS

Harbor Capital Advisors Inc. increased its holdings in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 5,634.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 58,837 shares of the company’s stock after purchasing an additional 57,811 shares during the period. Harbor Capital Advisors Inc.’s holdings in Shoals Technologies Group were worth $436,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of SHLS. Nisa Investment Advisors LLC lifted its position in shares of Shoals Technologies Group by 449.1% in the second quarter. Nisa Investment Advisors LLC now owns 7,226 shares of the company’s stock valued at $31,000 after buying an additional 5,910 shares during the last quarter. Savant Capital LLC acquired a new stake in Shoals Technologies Group during the 2nd quarter valued at $50,000. Ethic Inc. acquired a new stake in Shoals Technologies Group during the 2nd quarter valued at $54,000. Vanguard Personalized Indexing Management LLC boosted its position in Shoals Technologies Group by 43.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,569 shares of the company’s stock worth $62,000 after purchasing an additional 4,412 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Shoals Technologies Group by 468.3% in the second quarter. Tower Research Capital LLC TRC now owns 15,519 shares of the company’s stock valued at $66,000 after purchasing an additional 12,788 shares during the last quarter.

Shoals Technologies Group Trading Up 0.2%

Shares of SHLS stock opened at $9.21 on Monday. The stock has a market cap of $1.54 billion, a P/E ratio of 46.05, a price-to-earnings-growth ratio of 1.15 and a beta of 1.71. Shoals Technologies Group, Inc. has a 1 year low of $2.71 and a 1 year high of $11.36. The company has a current ratio of 2.19, a quick ratio of 1.53 and a debt-to-equity ratio of 0.21. The stock has a 50 day simple moving average of $8.93 and a 200 day simple moving average of $7.30.

Shoals Technologies Group (NASDAQ:SHLS) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 EPS for the quarter, hitting analysts’ consensus estimates of $0.12. The firm had revenue of $135.80 million for the quarter, compared to analyst estimates of $131.37 million. Shoals Technologies Group had a return on equity of 8.50% and a net margin of 7.66%. On average, research analysts predict that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SHLS shares. Morgan Stanley restated an “equal weight” rating and set a $9.50 target price (down previously from $11.00) on shares of Shoals Technologies Group in a research note on Tuesday, December 16th. Needham & Company LLC assumed coverage on shares of Shoals Technologies Group in a research report on Wednesday, October 22nd. They set a “buy” rating and a $12.00 price objective for the company. The Goldman Sachs Group boosted their price objective on Shoals Technologies Group from $8.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Barclays upgraded Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $7.00 to $10.00 in a research note on Thursday, October 2nd. Finally, Jefferies Financial Group boosted their price target on Shoals Technologies Group from $6.00 to $9.00 and gave the company a “buy” rating in a research note on Monday, September 8th. Twelve investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Shoals Technologies Group currently has an average rating of “Hold” and a consensus target price of $8.76.

Insider Transactions at Shoals Technologies Group

In other Shoals Technologies Group news, CFO Dominic Bardos sold 4,170 shares of the stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $7.83, for a total transaction of $32,651.10. Following the sale, the chief financial officer directly owned 412,289 shares in the company, valued at $3,228,222.87. This represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.52% of the stock is owned by insiders.

Shoals Technologies Group Profile

Shoals Technologies Group, Inc is a leading provider of electrical balance-of-system (BOS) solutions for the solar energy industry. The company designs, engineers and manufactures a comprehensive portfolio of products, including junction boxes, combiner boxes, cable assemblies, power distribution units and monitoring systems. These components are critical to interconnecting photovoltaic modules, optimizing energy output and ensuring safe, reliable performance across solar installations.

Founded in 1996 and headquartered in Portland, Tennessee, Shoals has grown its manufacturing and operations footprint to serve customers around the globe.