78,400 Shares in Shoals Technologies Group, Inc. $SHLS Purchased by Militia Capital Management LLC

Militia Capital Management LLC acquired a new position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 78,400 shares of the company’s stock, valued at approximately $516,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. KBC Group NV bought a new stake in shares of Shoals Technologies Group in the 1st quarter valued at approximately $30,000. PNC Financial Services Group Inc. increased its position in shares of Shoals Technologies Group by 378.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,566 shares of the company’s stock valued at $50,000 after purchasing an additional 5,983 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Shoals Technologies Group during the 1st quarter valued at $57,000. Tower Research Capital LLC TRC raised its holdings in Shoals Technologies Group by 468.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 15,519 shares of the company’s stock valued at $66,000 after buying an additional 12,788 shares during the period. Finally, Miller Howard Investments Inc. NY bought a new stake in Shoals Technologies Group in the first quarter worth $70,000.

Analysts Set New Price Targets

Several research analysts have commented on SHLS shares. The Goldman Sachs Group lifted their price objective on shares of Shoals Technologies Group from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Roth Capital restated a “buy” rating on shares of Shoals Technologies Group in a report on Thursday, July 2nd. Jefferies Financial Group lifted their price target on shares of Shoals Technologies Group from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Guggenheim reissued a “buy” rating on shares of Shoals Technologies Group in a research report on Friday, May 22nd. Finally, Wells Fargo & Company raised their price objective on shares of Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 11th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.46.

Shoals Technologies Group Trading Up 7.2%

SHLS opened at $9.37 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.84 and a debt-to-equity ratio of 0.30. The stock’s fifty day moving average is $10.28 and its two-hundred day moving average is $8.85. The company has a market capitalization of $1.57 billion, a P/E ratio of 46.85, a PEG ratio of 1.06 and a beta of 1.93. Shoals Technologies Group, Inc. has a 52 week low of $4.43 and a 52 week high of $13.18.

Shoals Technologies Group (NASDAQ:SHLS) last issued its earnings results on Tuesday, May 5th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. The business had revenue of $140.56 million during the quarter, compared to analysts’ expectations of $129.16 million. Shoals Technologies Group had a return on equity of 10.03% and a net margin of 6.27%.The firm’s quarterly 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 year.

Insider Activity

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

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.