Shoals Technologies Group, Inc. $SHLS Shares Bought by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL raised its stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 83.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,025,812 shares of the company’s stock after acquiring an additional 465,968 shares during the period. Tudor Investment Corp ET AL owned 0.61% of Shoals Technologies Group worth $7,601,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Encompass Capital Advisors LLC acquired a new position in Shoals Technologies Group in the second quarter valued at approximately $56,120,000. Vanguard Group Inc. boosted its stake in Shoals Technologies Group by 2.3% in the third quarter. Vanguard Group Inc. now owns 13,190,006 shares of the company’s stock valued at $97,738,000 after acquiring an additional 295,377 shares during the period. Peconic Partners LLC boosted its stake in Shoals Technologies Group by 79.8% in the second quarter. Peconic Partners LLC now owns 6,975,186 shares of the company’s stock valued at $29,645,000 after acquiring an additional 3,095,186 shares during the period. Invesco Ltd. boosted its stake in Shoals Technologies Group by 13.1% in the third quarter. Invesco Ltd. now owns 5,553,821 shares of the company’s stock valued at $41,154,000 after acquiring an additional 644,379 shares during the period. Finally, Erste Asset Management GmbH raised its holdings in shares of Shoals Technologies Group by 44.1% during the third quarter. Erste Asset Management GmbH now owns 4,516,372 shares of the company’s stock valued at $33,873,000 after buying an additional 1,382,999 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wall Street Zen cut Shoals Technologies Group from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Citigroup cut their price target on Shoals Technologies Group from $11.00 to $8.50 and set a “neutral” rating on the stock in a report on Thursday, February 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Shoals Technologies Group in a report on Friday, January 9th. UBS Group cut their price target on Shoals Technologies Group from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Finally, Jefferies Financial Group cut their price target on Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.57.

Shoals Technologies Group Stock Performance

SHLS opened at $6.41 on Wednesday. Shoals Technologies Group, Inc. has a twelve month low of $2.92 and a twelve month high of $11.36. The stock has a market cap of $1.07 billion, a PE ratio of 32.05, a price-to-earnings-growth ratio of 0.94 and a beta of 1.64. The business’s 50 day moving average is $7.75 and its 200-day moving average is $8.50. The company has a current ratio of 2.03, a quick ratio of 1.32 and a debt-to-equity ratio of 0.23.

Shoals Technologies Group (NASDAQ:SHLS) last announced its earnings results on Tuesday, February 24th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). Shoals Technologies Group had a return on equity of 9.10% and a net margin of 7.06%.The firm had revenue of $148.33 million for the quarter, compared to the consensus estimate of $144.52 million. During the same period in the previous year, the firm earned $0.08 EPS. Shoals Technologies Group’s revenue for the quarter was up 38.6% on a year-over-year basis. On average, analysts predict that Shoals Technologies Group, Inc. will post 0.29 earnings per share 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.