State of Wyoming Grows Stock Position in Shoals Technologies Group, Inc. $SHLS

State of Wyoming grew its position in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 538.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,575 shares of the company’s stock after acquiring an additional 81,458 shares during the quarter. State of Wyoming owned about 0.06% of Shoals Technologies Group worth $321,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Tower Research Capital LLC TRC lifted its position in shares of Shoals Technologies Group by 20.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 15,525 shares of the company’s stock valued at $86,000 after acquiring an additional 2,652 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Shoals Technologies Group by 17.2% in the first quarter. Stratos Wealth Partners LTD. now owns 23,313 shares of the company’s stock valued at $77,000 after acquiring an additional 3,415 shares in the last quarter. Maven Securities LTD lifted its position in shares of Shoals Technologies Group by 11.1% in the fourth quarter. Maven Securities LTD now owns 50,000 shares of the company’s stock valued at $276,000 after acquiring an additional 5,000 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Shoals Technologies Group by 2.5% in the first quarter. Rhumbline Advisers now owns 248,924 shares of the company’s stock valued at $826,000 after acquiring an additional 6,112 shares in the last quarter. Finally, Cidel Asset Management Inc. lifted its position in Shoals Technologies Group by 17.0% during the first quarter. Cidel Asset Management Inc. now owns 68,852 shares of the company’s stock worth $229,000 after buying an additional 9,982 shares in the last quarter.

Shoals Technologies Group Price Performance

NASDAQ:SHLS opened at $6.51 on Tuesday. Shoals Technologies Group, Inc. has a 52 week low of $2.71 and a 52 week high of $7.13. The company has a quick ratio of 1.64, a current ratio of 2.34 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $1.09 billion, a P/E ratio of 50.08, a P/E/G ratio of 0.80 and a beta of 1.62. The stock’s fifty day moving average is $5.58 and its two-hundred day moving average is $4.56.

Shoals Technologies Group (NASDAQ:SHLS) last posted its earnings results on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. Shoals Technologies Group had a return on equity of 7.57% and a net margin of 5.27%.The company had revenue of $110.84 million for the quarter, compared to the consensus estimate of $104.87 million. During the same quarter in the previous year, the business earned $0.10 earnings per share. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities analysts expect that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

Analysts Set New Price Targets

SHLS has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price objective on Shoals Technologies Group from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Jefferies Financial Group upgraded Shoals Technologies Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $4.90 to $7.20 in a research report on Monday, July 7th. Citigroup lifted their price objective on Shoals Technologies Group from $4.50 to $5.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. BNP Paribas reiterated an “underperform” rating and set a $4.00 price objective (down previously from $4.50) on shares of Shoals Technologies Group in a research report on Thursday, May 15th. Finally, Barclays lifted their price objective on Shoals Technologies Group from $4.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Friday, July 18th. Fourteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $9.15.

About Shoals Technologies Group

Shoals Technologies Group, Inc provides electrical balance of system (EBOS) solutions and components for solar, battery energy, and electric vehicle (EV) charging applications in the United States and internationally. The company designs, manufactures, and sells system solutions for both homerun and combine-as-you-go wiring architectures, as well as offers technical support services.