Mercuria Capital Strategies LLC Makes New Investment in Shoals Technologies Group, Inc. $SHLS

Mercuria Capital Strategies LLC bought a new position in Shoals Technologies Group, Inc. (NASDAQ:SHLS) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 300,000 shares of the company’s stock, valued at approximately $2,223,000. Shoals Technologies Group comprises about 2.9% of Mercuria Capital Strategies LLC’s holdings, making the stock its 9th largest position. Mercuria Capital Strategies LLC owned about 0.18% of Shoals Technologies Group at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada grew its position in Shoals Technologies Group by 292.5% in the first quarter. Royal Bank of Canada now owns 106,531 shares of the company’s stock worth $353,000 after acquiring an additional 79,392 shares in the last quarter. AQR Capital Management LLC raised its position in Shoals Technologies Group by 184.7% during the first quarter. AQR Capital Management LLC now owns 922,358 shares of the company’s stock valued at $2,975,000 after purchasing an additional 598,407 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Shoals Technologies Group in the 1st quarter valued at approximately $57,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Shoals Technologies Group by 8.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 517,507 shares of the company’s stock valued at $1,718,000 after purchasing an additional 38,983 shares during the last quarter. Finally, Savant Capital LLC purchased a new position in shares of Shoals Technologies Group in the 2nd quarter worth approximately $50,000.

Shoals Technologies Group Price Performance

Shares of SHLS stock opened at $5.75 on Tuesday. The company has a market capitalization of $962.84 million, a P/E ratio of 28.75, a P/E/G ratio of 0.69 and a beta of 1.77. The company’s 50-day simple moving average is $8.89 and its two-hundred day simple moving average is $8.57. Shoals Technologies Group, Inc. has a one year low of $2.71 and a one year high of $11.36. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.03 and a quick ratio of 1.32.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on SHLS shares. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Shoals Technologies Group in a research note on Monday, February 9th. Roth Mkm reduced 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 note on Tuesday, February 24th. Royal Bank Of Canada dropped their price target on shares of 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. Barclays cut their price target on shares of Shoals Technologies Group from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Finally, BNP Paribas Exane raised shares of Shoals Technologies Group from an “underperform” rating to a “neutral” rating and set a $9.00 price objective for the company in a research note on Wednesday, February 25th. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.71.

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.