162,410 Shares in Shoals Technologies Group, Inc. $SHLS Purchased by Great Lakes Advisors LLC

Great Lakes Advisors LLC bought a new stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 162,410 shares of the company's stock, valued at approximately $1,608,000. Great Lakes Advisors LLC owned about 0.10% of Shoals Technologies Group at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. KBC Group NV acquired a new position in shares of Shoals Technologies Group in the 1st quarter worth approximately $30,000. PNC Financial Services Group Inc. boosted its position in shares of Shoals Technologies Group by 378.0% during the first quarter. PNC Financial Services Group Inc. now owns 7,566 shares of the company's stock worth $50,000 after buying an additional 5,983 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Shoals Technologies Group in the first quarter valued at $57,000. Tower Research Capital LLC TRC raised its holdings in shares of Shoals Technologies Group by 468.3% in 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 purchased a new position in Shoals Technologies Group during the 1st quarter valued at about $70,000.

Analyst Ratings Changes

Several equities analysts have commented on SHLS shares. UBS Group raised their price target on shares of Shoals Technologies Group from $11.00 to $12.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Guggenheim restated a "buy" rating on shares of Shoals Technologies Group in a research note on Friday, May 22nd. Oppenheimer reiterated an "outperform" rating and issued a $13.00 price target on shares of Shoals Technologies Group in a research report on Tuesday, August 4th. Citigroup reaffirmed a "neutral" rating on shares of Shoals Technologies Group in a research report on Wednesday, July 22nd. Finally, Wells Fargo & Company boosted their target price on Shoals Technologies Group from $9.00 to $10.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 11th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Shoals Technologies Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.71.

Insider Activity

In other Shoals Technologies Group news, insider Bobbie Lee King, Jr. sold 10,000 shares of the firm's stock in a transaction that occurred 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 owned 98,918 shares in the company, valued at $1,029,736.38. This trade represents a 9.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.81% of the company's stock.

Shoals Technologies Group Stock Down 3.9%

SHLS opened at $7.09 on Friday. Shoals Technologies Group, Inc. has a 1 year low of $5.43 and a 1 year high of $13.18. The company has a market cap of $1.19 billion, a PE ratio of 37.32, a price-to-earnings-growth ratio of 0.91 and a beta of 1.93. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.12 and a current ratio of 2.25. The firm has a 50 day moving average price of $9.43 and a 200 day moving average price of $8.74.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.02. The company had revenue of $163.37 million during the quarter, compared to the consensus estimate of $160.03 million. Shoals Technologies Group had a return on equity of 10.07% and a net margin of 5.41%.The company's revenue was up 47.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 earnings per share. Sell-side analysts expect that Shoals Technologies Group, Inc. will post 0.34 earnings per share for the current year.

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.

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