Shoals Technologies Group, Inc. $SHLS Shares Sold by DNB Asset Management AS

DNB Asset Management AS lessened its holdings in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 10.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 524,334 shares of the company’s stock after selling 63,349 shares during the quarter. DNB Asset Management AS’s holdings in Shoals Technologies Group were worth $4,457,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in Shoals Technologies Group by 3.7% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 32,055 shares of the company’s stock valued at $274,000 after acquiring an additional 1,147 shares in the last quarter. GAMMA Investing LLC raised its holdings in Shoals Technologies Group by 57.7% during the fourth quarter. GAMMA Investing LLC now owns 3,756 shares of the company’s stock worth $32,000 after purchasing an additional 1,375 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Shoals Technologies Group by 14.1% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 16,616 shares of the company’s stock worth $123,000 after purchasing an additional 2,047 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Shoals Technologies Group by 13.0% during the second quarter. Canada Pension Plan Investment Board now owns 20,200 shares of the company’s stock worth $86,000 after purchasing an additional 2,316 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of Shoals Technologies Group by 1.9% during the second quarter. Legal & General Group Plc now owns 195,828 shares of the company’s stock worth $832,000 after acquiring an additional 3,601 shares during the last quarter.

Shoals Technologies Group Trading Down 3.9%

Shares of SHLS stock opened at $9.28 on Wednesday. The firm has a 50-day moving average price of $7.26 and a 200 day moving average price of $8.26. Shoals Technologies Group, Inc. has a twelve month low of $3.81 and a twelve month high of $11.36. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 46.40, a PEG ratio of 1.17 and a beta of 1.74. The company has a current ratio of 1.84, a quick ratio of 1.07 and a debt-to-equity ratio of 0.30.

Shoals Technologies Group (NASDAQ:SHLS) last announced its earnings results on Tuesday, May 5th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate 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 net margin of 6.27% and a return on equity of 10.03%. The company’s revenue was up 74.4% compared to the same quarter last year. Research analysts forecast that Shoals Technologies Group, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Shoals Technologies Group news, CFO Dominic Bardos sold 54,449 shares of Shoals Technologies Group stock in a transaction dated 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 sale, the chief financial officer owned 394,979 shares in the company, valued at $3,349,421.92. The trade was a 12.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.81% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SHLS shares. Wall Street Zen lowered shares of Shoals Technologies Group from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Needham & Company LLC restated a “buy” rating and set a $12.00 target price on shares of Shoals Technologies Group in a research report on Wednesday, May 6th. Roth Mkm decreased their target price on shares of Shoals Technologies Group from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Guggenheim decreased their target price on shares of Shoals Technologies Group from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Finally, Royal Bank Of Canada cut their price target on Shoals Technologies Group from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Ten 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’s stock. According to data from MarketBeat, Shoals Technologies Group has an average rating of “Moderate Buy” and a consensus target price of $9.64.

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.