Shoals Technologies Group, Inc. $SHLS Shares Acquired by Swedbank AB

Swedbank AB grew its stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 28.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,024,545 shares of the company’s stock after acquiring an additional 227,100 shares during the quarter. Swedbank AB owned about 0.61% of Shoals Technologies Group worth $8,709,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SHLS. GAMMA Investing LLC increased its stake in shares of Shoals Technologies Group by 57.7% in the 4th quarter. GAMMA Investing LLC now owns 3,756 shares of the company’s stock worth $32,000 after acquiring an additional 1,375 shares during the last quarter. USA Financial Formulas acquired a new stake in shares of Shoals Technologies Group in the 4th quarter worth $49,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Shoals Technologies Group in the 1st quarter worth $57,000. Tower Research Capital LLC TRC increased its stake in shares of Shoals Technologies Group by 468.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 15,519 shares of the company’s stock worth $66,000 after acquiring an additional 12,788 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of Shoals Technologies Group by 13.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 20,200 shares of the company’s stock worth $86,000 after acquiring an additional 2,316 shares during the last quarter.

Insider Activity

In related news, CFO Dominic Bardos sold 54,449 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $8.48, for a total transaction of $461,727.52. Following the completion of the transaction, the chief financial officer directly owned 394,979 shares in the company, valued at $3,349,421.92. This trade represents a 12.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SHLS. Roth Mkm cut their target price on Shoals Technologies Group from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $12.00 target price on shares of Shoals Technologies Group in a research note on Wednesday, May 6th. JPMorgan Chase & Co. raised their target price on Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Guggenheim reissued a “buy” rating on shares of Shoals Technologies Group in a research report on Friday. Finally, Citigroup raised their price objective on Shoals Technologies Group from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Ten equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.64.

Shoals Technologies Group Stock Up 9.2%

Shares of NASDAQ:SHLS opened at $10.82 on Wednesday. The business has a 50-day moving average price of $7.65 and a 200 day moving average price of $8.27. The company has a current ratio of 1.84, a quick ratio of 1.07 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 54.10, a PEG ratio of 1.20 and a beta of 1.74. Shoals Technologies Group, Inc. has a 12-month low of $3.99 and a 12-month high of $11.36.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly earnings data 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. The firm had revenue of $140.56 million during the quarter, compared to the consensus estimate of $129.16 million. Shoals Technologies Group had a return on equity of 10.03% and a net margin of 6.27%.The firm’s revenue was up 74.4% compared to the same quarter last year. Sell-side analysts expect that Shoals Technologies Group, Inc. will post 0.34 EPS for the current year.

Shoals Technologies Group Company 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.