778,874 Shares in Shoals Technologies Group, Inc. $SHLS Purchased by Peregrine Capital Management LLC

Key Points

• Peregrine Capital Management initiated a new position in Shoals Technologies Group, buying 778,874 shares worth about $6.62 million and owning roughly 0.47% of the company at quarter-end.
• Shoals reported revenue of $148.33 million (up 38.6% year-over-year) but missed on EPS ($0.10 vs. $0.14 consensus), and analysts have trimmed price targets though the consensus rating remains a “Moderate Buy” with an average target of $9.43.
• The stock opened at $7.78 (trading up 3.7%), with a market cap of $1.30 billion, a P/E of 38.9, and a 12‑month range of $3.30 to $11.36.

Peregrine Capital Management LLC purchased a new position in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 778,874 shares of the company's stock, valued at approximately $6,620,000. Peregrine Capital Management LLC owned approximately 0.47% of Shoals Technologies Group at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SHLS. GAMMA Investing LLC raised its stake in Shoals Technologies Group by 57.7% in the fourth quarter. GAMMA Investing LLC now owns 3,756 shares of the company's stock worth $32,000 after buying an additional 1,375 shares in the last quarter. USA Financial Formulas purchased a new position in shares of Shoals Technologies Group in the 4th quarter valued at approximately $49,000. State of Alaska Department of Revenue purchased a new position in shares of Shoals Technologies Group in the 3rd quarter valued at approximately $54,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Shoals Technologies Group in the 1st quarter valued at approximately $57,000. Finally, Tower Research Capital LLC TRC lifted its stake 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 purchasing an additional 12,788 shares during the period.

Shoals Technologies Group Trading Up 3.7%

Shoals Technologies Group stock opened at $7.78 on Friday. The company has a current ratio of 2.03, a quick ratio of 1.32 and a debt-to-equity ratio of 0.23. The business's fifty day simple moving average is $7.08 and its two-hundred day simple moving average is $8.43. Shoals Technologies Group, Inc. has a 12 month low of $3.30 and a 12 month high of $11.36. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 38.90, a price-to-earnings-growth ratio of 0.85 and a beta of 1.64.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last released 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 during the quarter, compared to the consensus estimate of $144.52 million. During the same period last year, the firm posted $0.08 earnings per share. The company's revenue was up 38.6% compared to the same quarter last year. As a group, equities analysts predict that Shoals Technologies Group, Inc. will post 0.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wall Street Zen cut Shoals Technologies Group from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Roth Mkm reduced their price target on Shoals Technologies Group from $15.00 to $10.00 and set a "buy" rating on the stock in a research note on Tuesday, February 24th. Citigroup reduced their price target on Shoals Technologies Group from $11.00 to $8.50 and set a "neutral" rating on the stock in a research note on Thursday, February 26th. UBS Group reduced their price target on Shoals Technologies Group from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Wednesday, February 25th. Finally, JPMorgan Chase & Co. reduced their price target on Shoals Technologies Group from $11.00 to $9.00 and set an "overweight" rating on the stock in a research note on Thursday, April 16th. Ten equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Shoals Technologies Group currently has an average rating of "Moderate Buy" and an average price target of $9.43.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.