Portolan Capital Management LLC Takes $6.04 Million Position in Shoals Technologies Group, Inc. $SHLS

Portolan Capital Management LLC acquired a new position in Shoals Technologies Group, Inc. (NASDAQ:SHLS) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 815,205 shares of the company’s stock, valued at approximately $6,041,000. Portolan Capital Management LLC owned about 0.49% of Shoals Technologies Group at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SHLS. Savant Capital LLC acquired a new position in Shoals Technologies Group in the 2nd quarter valued at $50,000. State of Alaska Department of Revenue acquired a new position in Shoals Technologies Group during the 3rd quarter worth $54,000. Dynamic Technology Lab Private Ltd bought a new stake in Shoals Technologies Group during the first quarter valued at about $57,000. Tower Research Capital LLC TRC grew its position in shares of Shoals Technologies Group by 468.3% in the second quarter. Tower Research Capital LLC TRC now owns 15,519 shares of the company’s stock valued at $66,000 after purchasing an additional 12,788 shares during the last quarter. Finally, American Trust acquired a new position in shares of Shoals Technologies Group during the 2nd quarter worth about $70,000.

Analyst Ratings Changes

Several brokerages have commented on SHLS. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Shoals Technologies Group in a research report on Monday, February 9th. UBS Group cut their target price on shares of Shoals Technologies Group from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Citigroup dropped their price objective on shares of Shoals Technologies Group from $11.00 to $8.50 and set a “neutral” rating on the stock in a report on Thursday, February 26th. Needham & Company LLC reduced their target price on shares of Shoals Technologies Group from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Finally, Guggenheim cut their price target on Shoals Technologies Group from $12.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.57.

Shoals Technologies Group Stock Up 0.2%

NASDAQ SHLS opened at $6.13 on Friday. Shoals Technologies Group, Inc. has a 1-year low of $2.92 and a 1-year high of $11.36. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 30.65, a PEG ratio of 0.87 and a beta of 1.77. The stock’s 50 day moving average is $8.69 and its two-hundred day moving average is $8.53. 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 posted 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 company had revenue of $148.33 million for the quarter, compared to the consensus estimate of $144.52 million. During the same quarter last year, the business earned $0.08 EPS. Shoals Technologies Group’s quarterly revenue was up 38.6% compared to the same quarter last year. Equities analysts forecast that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

About Shoals Technologies Group

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.