369,142 Shares in Shoals Technologies Group, Inc. $SHLS Purchased by Ruffer LLP

Ruffer LLP purchased a new stake in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 369,142 shares of the company’s stock, valued at approximately $2,735,000.

Several other hedge funds have also modified their holdings of the company. Nisa Investment Advisors LLC grew its holdings in shares of Shoals Technologies Group by 449.1% in the second quarter. Nisa Investment Advisors LLC now owns 7,226 shares of the company’s stock valued at $31,000 after purchasing an additional 5,910 shares in the last quarter. Savant Capital LLC bought a new position in Shoals Technologies Group during the second quarter valued at $50,000. Ethic Inc. purchased a new position in shares of Shoals Technologies Group in the 2nd quarter worth $54,000. State of Alaska Department of Revenue bought a new stake in shares of Shoals Technologies Group in the 3rd quarter worth about $54,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Shoals Technologies Group in the 1st quarter valued at about $57,000.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SHLS shares. Roth Mkm restated a “buy” rating and set a $15.00 price objective (up from $10.00) on shares of Shoals Technologies Group in a research report on Wednesday, November 5th. Needham & Company LLC initiated coverage on Shoals Technologies Group in a report on Wednesday, October 22nd. They set a “buy” rating and a $12.00 price target on the stock. Zacks Research lowered shares of Shoals Technologies Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Wells Fargo & Company increased their target price on shares of Shoals Technologies Group from $6.00 to $10.00 and gave the company an “equal weight” rating in a research note on Thursday, November 6th. Finally, Barclays raised shares of Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $7.00 to $10.00 in a research note on Thursday, October 2nd. Ten analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $9.40.

Shoals Technologies Group Stock Up 6.1%

Shares of NASDAQ:SHLS opened at $10.15 on Thursday. Shoals Technologies Group, Inc. has a 52-week low of $2.71 and a 52-week high of $11.36. The company has a quick ratio of 1.53, a current ratio of 2.19 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $8.75 and its 200 day moving average is $7.91. The stock has a market cap of $1.70 billion, a P/E ratio of 50.75, a price-to-earnings-growth ratio of 0.81 and a beta of 1.70.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. The firm had revenue of $135.80 million during the quarter, compared to the consensus estimate of $131.37 million. Shoals Technologies Group had a return on equity of 8.50% and a net margin of 7.66%. Sell-side analysts predict that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

Insider Transactions at Shoals Technologies Group

In other Shoals Technologies Group news, CFO Dominic Bardos sold 4,170 shares of the stock in a transaction on Friday, December 5th. The stock was sold at an average price of $7.83, for a total transaction of $32,651.10. Following the sale, the chief financial officer owned 412,289 shares of the company’s stock, valued at approximately $3,228,222.87. This trade represents a 1.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.52% of the company’s stock.

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.