Shoals Technologies Group, Inc. $SHLS Stake Lifted by First Trust Advisors LP

First Trust Advisors LP lifted its position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 15.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 7,304,064 shares of the company’s stock after acquiring an additional 972,382 shares during the period. First Trust Advisors LP owned 4.36% of Shoals Technologies Group worth $48,061,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Shoals Technologies Group by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 13,594,139 shares of the company’s stock valued at $115,550,000 after purchasing an additional 404,133 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Shoals Technologies Group by 151.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,753,784 shares of the company’s stock valued at $108,410,000 after buying an additional 7,685,515 shares during the period. Peconic Partners LLC raised its position in shares of Shoals Technologies Group by 79.8% during the 2nd quarter. Peconic Partners LLC now owns 6,975,186 shares of the company’s stock worth $29,645,000 after buying an additional 3,095,186 shares in the last quarter. UBS Group AG lifted its stake in shares of Shoals Technologies Group by 87.6% in the 4th quarter. UBS Group AG now owns 6,140,543 shares of the company’s stock worth $52,195,000 after acquiring an additional 2,867,959 shares during the period. Finally, State Street Corp boosted its holdings in shares of Shoals Technologies Group by 4.0% in the fourth quarter. State Street Corp now owns 6,019,109 shares of the company’s stock valued at $51,162,000 after acquiring an additional 229,890 shares in the last quarter.

Shoals Technologies Group Stock Performance

SHLS opened at $9.39 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.84 and a debt-to-equity ratio of 0.30. The firm has a market cap of $1.57 billion, a PE ratio of 46.95, a P/E/G ratio of 1.14 and a beta of 1.90. The business has a fifty day simple moving average of $10.38 and a 200-day simple moving average of $8.86. Shoals Technologies Group, Inc. has a fifty-two week low of $4.43 and a fifty-two week high of $13.18.

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

Insider Activity

In other news, insider Bobbie Lee King, Jr. sold 10,000 shares of Shoals Technologies Group stock in a transaction that occurred on Tuesday, June 16th. The shares were 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 of the company’s stock, valued at $1,029,736.38. This trade represents a 9.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Dominic Bardos sold 54,449 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $8.48, for a total transaction of $461,727.52. Following the sale, the chief financial officer owned 394,979 shares in the company, valued at $3,349,421.92. This represents a 12.12% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.81% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SHLS has been the topic of several research analyst reports. Roth Capital reiterated a “buy” rating on shares of Shoals Technologies Group in a research report on Thursday, July 2nd. Citigroup restated a “neutral” rating on shares of Shoals Technologies Group in a report on Wednesday. The Goldman Sachs Group raised their target price on Shoals Technologies Group from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. JPMorgan Chase & Co. lifted their target price on Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Wells Fargo & Company boosted their price target on shares of Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 11th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Shoals Technologies Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.46.

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.