Castle Hook Partners LP Takes Position in Shoals Technologies Group, Inc. $SHLS

Castle Hook Partners LP purchased a new stake in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,717,105 shares of the company’s stock, valued at approximately $40,095,000. Castle Hook Partners LP owned 2.82% of Shoals Technologies Group as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SHLS. GAMMA Investing LLC lifted its stake in shares of Shoals Technologies Group by 57.7% during the fourth 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 during the period. USA Financial Formulas acquired a new position in shares of Shoals Technologies Group during the fourth quarter valued at $49,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Shoals Technologies Group during the first quarter valued at $57,000. Tower Research Capital LLC TRC lifted its stake in shares of Shoals Technologies Group by 468.3% during the second 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 during the period. Finally, CIBC Asset Management Inc acquired a new position in shares of Shoals Technologies Group during the fourth quarter valued at $85,000.

Shoals Technologies Group Stock Down 5.2%

Shares of Shoals Technologies Group stock opened at $9.44 on Thursday. Shoals Technologies Group, Inc. has a 1 year low of $3.99 and a 1 year high of $13.18. The business has a 50-day moving average of $9.12 and a two-hundred day moving average of $8.57. The company has a market capitalization of $1.58 billion, a P/E ratio of 47.20, a price-to-earnings-growth ratio of 1.21 and a beta of 1.90. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.84 and a quick ratio of 1.07.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $140.56 million during the quarter, compared to the consensus estimate of $129.16 million. The firm’s revenue for the quarter was up 74.4% compared to the same quarter last year. As a group, equities analysts predict that Shoals Technologies Group, Inc. will post 0.34 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SHLS. Needham & Company LLC reaffirmed a “buy” rating and set a $12.00 price target on shares of Shoals Technologies Group in a research note on Wednesday, May 6th. UBS Group upped their price objective on Shoals Technologies Group from $11.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, May 7th. TD Cowen reiterated a “buy” rating on shares of Shoals Technologies Group in a report on Tuesday, February 24th. Guggenheim reiterated a “buy” rating on shares of Shoals Technologies Group in a report on Friday, May 22nd. Finally, BNP Paribas Exane upgraded Shoals Technologies Group from an “underperform” rating to a “neutral” rating and set a $9.00 price objective for the company in a report on Wednesday, February 25th. Ten research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Shoals Technologies Group has a consensus rating of “Moderate Buy” and a consensus price target of $9.71.

Insider Activity

In other Shoals Technologies Group news, CFO Dominic Bardos sold 54,449 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $8.48, for a total value of $461,727.52. Following the completion of the sale, the chief financial officer directly owned 394,979 shares in the company, valued at $3,349,421.92. This represents a 12.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bobbie Lee King, Jr. sold 10,000 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $10.41, for a total value of $104,100.00. Following the completion of the sale, the insider owned 98,918 shares of the company’s stock, valued at $1,029,736.38. This trade represents a 9.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.81% of the stock is owned by corporate insiders.

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.