American Century Companies Inc. Grows Position in Shoals Technologies Group, Inc. $SHLS

American Century Companies Inc. boosted its position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 17.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,244,717 shares of the company’s stock after buying an additional 490,451 shares during the period. American Century Companies Inc. owned 1.94% of Shoals Technologies Group worth $24,043,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vanguard Personalized Indexing Management LLC grew its position in shares of Shoals Technologies Group by 14.1% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 16,616 shares of the company’s stock worth $123,000 after acquiring an additional 2,047 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Shoals Technologies Group by 13.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 20,200 shares of the company’s stock valued at $86,000 after purchasing an additional 2,316 shares during the last quarter. AE Wealth Management LLC boosted its stake in Shoals Technologies Group by 8.6% during the 2nd quarter. AE Wealth Management LLC now owns 34,568 shares of the company’s stock worth $147,000 after purchasing an additional 2,743 shares during the period. Legal & General Group Plc boosted its stake in Shoals Technologies Group by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 195,828 shares of the company’s stock worth $832,000 after purchasing an additional 3,601 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its position in Shoals Technologies Group by 19.5% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 30,908 shares of the company’s stock worth $229,000 after purchasing an additional 5,050 shares during the last quarter.

Shoals Technologies Group Stock Down 2.4%

Shares of Shoals Technologies Group stock opened at $5.71 on Monday. Shoals Technologies Group, Inc. has a one year low of $2.71 and a one year high of $11.36. The company has a market cap of $955.79 million, a P/E ratio of 28.55, a PEG ratio of 0.69 and a beta of 1.77. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.32 and a current ratio of 2.03. The firm has a fifty day moving average of $8.95 and a two-hundred day moving average of $8.57.

Shoals Technologies Group (NASDAQ:SHLS) last issued its earnings results on Tuesday, February 24th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). Shoals Technologies Group had a net margin of 7.06% and a return on equity of 9.10%. The firm had revenue of $148.33 million during the quarter, compared to analysts’ expectations of $144.52 million. During the same period in the previous year, the firm earned $0.08 EPS. The firm’s revenue was up 38.6% on a year-over-year basis. On average, analysts forecast that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SHLS has been the topic of a number of recent research reports. UBS Group dropped their price objective on shares of Shoals Technologies Group from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Needham & Company LLC decreased their target price on shares of Shoals Technologies Group from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Roth Mkm lowered their price target on Shoals Technologies Group from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. Barclays dropped their price target on Shoals Technologies Group from $10.00 to $9.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Finally, BNP Paribas Exane raised Shoals Technologies Group from an “underperform” rating to a “neutral” rating and set a $9.00 price objective for the company in a research note on Wednesday, February 25th. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.71.

Shoals Technologies Group Company 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.