Caxton Associates LLP Sells 81,204 Shares of Shoals Technologies Group, Inc. $SHLS

Caxton Associates LLP reduced its stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 40.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 118,137 shares of the company’s stock after selling 81,204 shares during the period. Caxton Associates LLP owned approximately 0.07% of Shoals Technologies Group worth $777,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hussman Strategic Advisors Inc. grew its position in Shoals Technologies Group by 140.0% during the 4th quarter. Hussman Strategic Advisors Inc. now owns 252,000 shares of the company’s stock valued at $2,142,000 after purchasing an additional 147,000 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Shoals Technologies Group by 148.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 414,545 shares of the company’s stock valued at $3,524,000 after purchasing an additional 247,721 shares in the last quarter. Telemark Asset Management LLC raised its holdings in Shoals Technologies Group by 50.0% in the fourth quarter. Telemark Asset Management LLC now owns 1,500,000 shares of the company’s stock worth $12,750,000 after buying an additional 500,000 shares during the last quarter. Tudor Investment Corp ET AL raised its holdings in Shoals Technologies Group by 83.2% in the third quarter. Tudor Investment Corp ET AL now owns 1,025,812 shares of the company’s stock worth $7,601,000 after buying an additional 465,968 shares during the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in shares of Shoals Technologies Group in the fourth quarter worth approximately $9,819,000.

Wall Street Analysts Forecast Growth

SHLS has been the subject of several analyst reports. Roth Capital reissued a “buy” rating on shares of Shoals Technologies Group in a research report on Thursday, July 2nd. Guggenheim reaffirmed a “buy” rating on shares of Shoals Technologies Group in a research report on Friday, May 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Shoals Technologies Group in a research report on Wednesday, May 6th. UBS Group increased their target price on Shoals Technologies Group from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group lifted their target price on Shoals Technologies Group from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.46.

Insider Buying and Selling at Shoals Technologies Group

In other news, insider Bobbie Lee King, Jr. sold 10,000 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $10.41, for a total value of $104,100.00. Following the transaction, the insider directly owned 98,918 shares in the company, valued at $1,029,736.38. This trade represents a 9.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Dominic Bardos sold 54,449 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $8.48, for a total value of $461,727.52. Following the completion of the transaction, the chief financial officer owned 394,979 shares in the company, valued at approximately $3,349,421.92. This trade represents a 12.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.81% of the stock is owned by corporate insiders.

Shoals Technologies Group Price Performance

SHLS opened at $9.39 on Monday. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 46.95, a PEG ratio of 1.14 and a beta of 1.90. The firm has a 50 day moving average price of $10.38 and a 200-day moving average price of $8.86. Shoals Technologies Group, Inc. has a twelve month low of $4.43 and a twelve month high of $13.18. The company has a quick ratio of 1.07, a current ratio of 1.84 and a debt-to-equity ratio of 0.30.

Shoals Technologies Group (NASDAQ:SHLS) last issued its earnings results on Tuesday, May 5th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. Shoals Technologies Group had a net margin of 6.27% and a return on equity of 10.03%. The company had revenue of $140.56 million for the quarter, compared to analysts’ expectations of $129.16 million. The company’s quarterly revenue was up 74.4% compared to the same quarter last year. Equities research analysts forecast that Shoals Technologies Group, Inc. will post 0.34 earnings per share for the current year.

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.