Shoals Technologies Group, Inc. $SHLS Shares Bought by Telemark Asset Management LLC

Telemark Asset Management LLC raised its position in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 50.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,500,000 shares of the company’s stock after acquiring an additional 500,000 shares during the quarter. Shoals Technologies Group makes up approximately 1.3% of Telemark Asset Management LLC’s portfolio, making the stock its 29th biggest position. Telemark Asset Management LLC’s holdings in Shoals Technologies Group were worth $12,750,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SHLS. GAMMA Investing LLC grew its position in Shoals Technologies Group by 57.7% in the 4th quarter. GAMMA Investing LLC now owns 3,756 shares of the company’s stock valued at $32,000 after acquiring an additional 1,375 shares in the last quarter. USA Financial Formulas acquired a new position in Shoals Technologies Group in the 4th quarter valued at about $49,000. Dynamic Technology Lab Private Ltd acquired a new position in Shoals Technologies Group in the 1st quarter valued at about $57,000. Tower Research Capital LLC TRC grew its position in 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 valued at $66,000 after acquiring an additional 12,788 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new position in Shoals Technologies Group in the 4th quarter valued at about $85,000.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SHLS. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Shoals Technologies Group in a research report on Monday, February 9th. Weiss Ratings raised Shoals Technologies Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, May 22nd. Guggenheim reissued a “buy” rating on shares of Shoals Technologies Group in a research report on Friday, May 22nd. Morgan Stanley lowered their price objective on Shoals Technologies Group from $9.50 to $8.50 and set an “equal weight” rating for the company in a research report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. boosted their price objective on Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Ten analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $9.64.

Insiders Place Their Bets

In related news, CFO Dominic Bardos sold 54,449 shares of the business’s stock in a transaction that occurred on 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.81% of the stock is currently owned by insiders.

Shoals Technologies Group Stock Performance

Shares of Shoals Technologies Group stock opened at $10.81 on Friday. Shoals Technologies Group, Inc. has a one year low of $3.99 and a one year high of $13.18. The company has a market cap of $1.81 billion, a PE ratio of 54.05, a P/E/G ratio of 1.31 and a beta of 1.90. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.07 and a current ratio of 1.84. The business has a 50-day simple moving average of $8.59 and a 200-day simple moving average of $8.46.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.07 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 business had revenue of $140.56 million during the quarter, compared to the consensus estimate of $129.16 million. The firm’s quarterly revenue was up 74.4% on a year-over-year basis. On average, equities research analysts forecast that Shoals Technologies Group, Inc. will post 0.34 EPS for the current fiscal year.

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.