65,054 Shares in Shoals Technologies Group, Inc. $SHLS Purchased by Precision Wealth Strategies LLC

Precision Wealth Strategies LLC bought a new stake in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 65,054 shares of the company’s stock, valued at approximately $428,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Hussman Strategic Advisors Inc. increased its position in Shoals Technologies Group by 140.0% in the 4th quarter. Hussman Strategic Advisors Inc. now owns 252,000 shares of the company’s stock valued at $2,142,000 after acquiring an additional 147,000 shares during the period. Assenagon Asset Management S.A. boosted its position in Shoals Technologies Group by 148.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 414,545 shares of the company’s stock worth $3,524,000 after acquiring an additional 247,721 shares during the period. Telemark Asset Management LLC grew its stake in shares of Shoals Technologies Group by 50.0% in the fourth quarter. Telemark Asset Management LLC now owns 1,500,000 shares of the company’s stock worth $12,750,000 after purchasing an additional 500,000 shares in the last quarter. Tudor Investment Corp ET AL grew its stake in shares of Shoals Technologies Group by 83.2% in the third quarter. Tudor Investment Corp ET AL now owns 1,025,812 shares of the company’s stock worth $7,601,000 after purchasing an additional 465,968 shares in the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of Shoals Technologies Group during the fourth quarter valued at $9,819,000.

Shoals Technologies Group Stock Performance

NASDAQ:SHLS opened at $10.30 on Friday. The company has a 50-day moving average of $10.32 and a 200-day moving average of $8.82. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 51.50, a price-to-earnings-growth ratio of 1.25 and a beta of 1.90. The company has a current ratio of 1.84, a quick ratio of 1.07 and a debt-to-equity ratio of 0.30. Shoals Technologies Group, Inc. has a twelve month low of $4.43 and a twelve month high of $13.18.

Shoals Technologies Group (NASDAQ:SHLS) last released its earnings results on Tuesday, May 5th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. Shoals Technologies Group had a net margin of 6.27% and a return on equity of 10.03%. The business had revenue of $140.56 million for the quarter, compared to the consensus estimate of $129.16 million. The firm’s revenue was up 74.4% compared to the same quarter last year. Analysts forecast that Shoals Technologies Group, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Shoals Technologies Group

In other news, insider Bobbie Lee King, Jr. sold 10,000 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $10.41, for a total transaction of $104,100.00. Following the completion of the sale, the insider directly owned 98,918 shares of the company’s stock, valued at $1,029,736.38. This trade represents a 9.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Dominic Bardos sold 54,449 shares of Shoals Technologies Group stock in a transaction on 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 transaction, the chief financial officer owned 394,979 shares in the company, valued at $3,349,421.92. The trade was a 12.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.81% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SHLS. Citigroup lifted their price objective on shares of Shoals Technologies Group from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Roth Capital reiterated a “buy” rating on shares of Shoals Technologies Group in a research report on Thursday, July 2nd. Needham & Company LLC reissued a “buy” rating and set a $12.00 target price on shares of Shoals Technologies Group in a research note on Wednesday, May 6th. Barclays boosted their price target on shares of Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Finally, UBS Group upped their price target on shares of Shoals Technologies Group from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $10.31.

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.