Thrivent Financial for Lutherans Has $620,000 Holdings in Shoals Technologies Group, Inc. $SHLS

Thrivent Financial for Lutherans cut its stake in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 61.7% in the third quarter, Holdings Channel reports. The fund owned 83,666 shares of the company’s stock after selling 134,732 shares during the period. Thrivent Financial for Lutherans’ holdings in Shoals Technologies Group were worth $620,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Vanguard Personalized Indexing Management LLC lifted its holdings in Shoals Technologies Group by 14.1% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 16,616 shares of the company’s stock valued at $123,000 after purchasing an additional 2,047 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of 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 buying an additional 2,316 shares in the last quarter. AE Wealth Management LLC raised its stake in shares of Shoals Technologies Group by 8.6% in the second quarter. AE Wealth Management LLC now owns 34,568 shares of the company’s stock valued at $147,000 after acquiring an additional 2,743 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Shoals Technologies Group by 1.9% in the 2nd 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 in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of Shoals Technologies Group by 19.5% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 30,908 shares of the company’s stock worth $229,000 after acquiring an additional 5,050 shares in the last quarter.

Shoals Technologies Group Trading Up 6.0%

SHLS stock opened at $10.24 on Tuesday. The company has a quick ratio of 1.53, a current ratio of 2.19 and a debt-to-equity ratio of 0.21. Shoals Technologies Group, Inc. has a twelve month low of $2.71 and a twelve month high of $11.36. The company has a market cap of $1.71 billion, a P/E ratio of 51.20, a PEG ratio of 0.87 and a beta of 1.70. The business has a fifty day moving average of $9.28 and a 200-day moving average of $8.31.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several equities analysts have issued reports on the company. The Goldman Sachs Group reiterated a “buy” rating on shares of Shoals Technologies Group in a research report on Monday, February 9th. Weiss Ratings restated a “hold (c)” rating on shares of Shoals Technologies Group in a research note on Friday, January 9th. Zacks Research cut Shoals Technologies Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Needham & Company LLC initiated coverage on shares of Shoals Technologies Group in a research report on Wednesday, October 22nd. They set a “buy” rating and a $12.00 price target on the stock. Finally, UBS Group raised their price objective on shares of Shoals Technologies Group from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Ten investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Shoals Technologies Group presently has an average rating of “Moderate Buy” and a consensus price target of $9.40.

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.