Assenagon Asset Management S.A. Has $3.52 Million Holdings in Shoals Technologies Group, Inc. $SHLS

Assenagon Asset Management S.A. boosted its holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 148.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 414,545 shares of the company’s stock after purchasing an additional 247,721 shares during the quarter. Assenagon Asset Management S.A. owned 0.25% of Shoals Technologies Group worth $3,524,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Encompass Capital Advisors LLC bought a new position in Shoals Technologies Group during the 2nd quarter worth $56,120,000. Peconic Partners LLC increased its position in shares of Shoals Technologies Group by 79.8% in the second quarter. Peconic Partners LLC now owns 6,975,186 shares of the company’s stock worth $29,645,000 after purchasing an additional 3,095,186 shares during the period. Amundi raised its stake in Shoals Technologies Group by 858.2% in the third quarter. Amundi now owns 2,099,053 shares of the company’s stock valued at $15,830,000 after purchasing an additional 1,879,985 shares in the last quarter. Electron Capital Partners LLC lifted its position in Shoals Technologies Group by 1,716.1% during the second quarter. Electron Capital Partners LLC now owns 1,976,633 shares of the company’s stock worth $8,401,000 after purchasing an additional 1,867,795 shares during the period. Finally, Schroder Investment Management Group acquired a new stake in Shoals Technologies Group during the second quarter worth about $7,917,000.

Analysts Set New Price Targets

SHLS has been the subject of a number of recent analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Shoals Technologies Group in a report on Monday, February 9th. Jefferies Financial Group decreased their price target on Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. BNP Paribas Exane upgraded Shoals Technologies Group from an “underperform” rating to a “neutral” rating and set a $9.00 price objective for the company in a research report on Wednesday, February 25th. Wall Street Zen cut Shoals Technologies Group from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Royal Bank Of Canada dropped their target price on shares of Shoals Technologies Group from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Ten research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $9.57.

Shoals Technologies Group Stock Performance

Shoals Technologies Group stock opened at $6.62 on Monday. The business has a 50 day moving average of $8.13 and a 200-day moving average of $8.52. The company has a market capitalization of $1.11 billion, a P/E ratio of 33.10, a P/E/G ratio of 0.92 and a beta of 1.77. Shoals Technologies Group, Inc. has a 1 year low of $2.92 and a 1 year high of $11.36. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.03 and a quick ratio of 1.32.

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

About Shoals Technologies Group

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.