Cookson Peirce & Co. Inc. Takes Position in Shoals Technologies Group, Inc. $SHLS

Cookson Peirce & Co. Inc. purchased a new position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 155,616 shares of the company’s stock, valued at approximately $1,153,000. Cookson Peirce & Co. Inc. owned about 0.09% of Shoals Technologies Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of SHLS. Dynamic Technology Lab Private Ltd lifted its holdings in Shoals Technologies Group by 815.6% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 157,946 shares of the company’s stock worth $671,000 after buying an additional 140,696 shares during the last quarter. Ruffer LLP bought a new stake in shares of Shoals Technologies Group in the 3rd quarter valued at approximately $2,735,000. Financial Enhancement Group LLC bought a new stake in shares of Shoals Technologies Group in the 3rd quarter valued at approximately $832,000. American Century Companies Inc. raised its position in shares of Shoals Technologies Group by 128.3% during the 2nd quarter. American Century Companies Inc. now owns 2,754,266 shares of the company’s stock valued at $11,706,000 after acquiring an additional 1,548,094 shares in the last quarter. Finally, Great Lakes Advisors LLC bought a new position in Shoals Technologies Group during the third quarter worth $1,546,000.

Shoals Technologies Group Stock Up 6.0%

SHLS stock opened at $10.24 on Friday. The stock has a market cap of $1.71 billion, a PE ratio of 51.20, a price-to-earnings-growth ratio of 0.82 and a beta of 1.70. The firm’s 50-day simple moving average is $9.23 and its 200 day simple moving average is $8.24. Shoals Technologies Group, Inc. has a fifty-two week low of $2.71 and a fifty-two week high of $11.36. The company has a quick ratio of 1.53, a current ratio of 2.19 and a debt-to-equity ratio of 0.21.

Insider Activity

In other news, CFO Dominic Bardos sold 4,170 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $7.83, for a total transaction of $32,651.10. Following the completion of the transaction, the chief financial officer directly owned 412,289 shares in the company, valued at approximately $3,228,222.87. The trade was a 1.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.67% of the company’s stock.

Analysts Set New Price Targets

SHLS has been the subject of a number of research reports. Morgan Stanley reaffirmed an “equal weight” rating and issued a $9.50 price objective (down previously from $11.00) on shares of Shoals Technologies Group in a report on Tuesday, December 16th. Guggenheim raised their price target on shares of Shoals Technologies Group from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Roth Mkm reaffirmed a “buy” rating and issued a $15.00 price target (up from $10.00) on shares of Shoals Technologies Group in a report on Wednesday, November 5th. Zacks Research lowered shares of Shoals Technologies Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Finally, Needham & Company LLC started coverage on shares of Shoals Technologies Group in a report on Wednesday, October 22nd. They issued a “buy” rating and a $12.00 target price on the stock. Ten research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $9.40.

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.