Shoals Technologies Group, Inc. $SHLS Shares Purchased by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. has increased its stake in Shoals Technologies Group by 10.3%, owning a total of 1,345,728 shares valued at approximately $4.47 million.
• Research analysts have mixed forecasts for Shoals Technologies, with Goldman Sachs raising their price target to $6.00 and Barclays increasing it to $7.00, while BNP Paribas lowered theirs to $4.00.
• Shoals Technologies Group reported a quarterly earnings per share (EPS) of $0.10, surpassing analysts’ expectations, and indicated a revenue increase of 11.7% year-over-year, totaling $110.84 million.

Charles Schwab Investment Management Inc. increased its position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 10.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,345,728 shares of the company's stock after purchasing an additional 125,941 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.81% of Shoals Technologies Group worth $4,468,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in shares of Shoals Technologies Group by 8.6% during the fourth quarter. Wellington Management Group LLP now owns 14,233,342 shares of the company's stock worth $78,710,000 after purchasing an additional 1,125,938 shares during the period. Encompass Capital Advisors LLC lifted its holdings in Shoals Technologies Group by 14.5% in the fourth quarter. Encompass Capital Advisors LLC now owns 5,410,245 shares of the company's stock valued at $29,919,000 after acquiring an additional 683,642 shares during the period. Frontier Capital Management Co. LLC lifted its holdings in Shoals Technologies Group by 34.5% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,501,876 shares of the company's stock valued at $13,835,000 after acquiring an additional 641,328 shares during the period. Redwood Grove Capital LLC raised its stake in shares of Shoals Technologies Group by 12.8% during the 4th quarter. Redwood Grove Capital LLC now owns 2,054,273 shares of the company's stock worth $11,360,000 after buying an additional 233,373 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in shares of Shoals Technologies Group by 45.3% during the 4th quarter. Ameriprise Financial Inc. now owns 1,882,420 shares of the company's stock worth $10,410,000 after buying an additional 587,235 shares during the period.

Shoals Technologies Group Trading Down 1.2%

Shares of NASDAQ SHLS traded down $0.08 during mid-day trading on Monday, reaching $6.51. 2,362,505 shares of the company's stock were exchanged, compared to its average volume of 6,216,846. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 50.08, a PEG ratio of 0.80 and a beta of 1.62. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.64 and a current ratio of 2.34. Shoals Technologies Group, Inc. has a 52-week low of $2.71 and a 52-week high of $7.13. The company's 50-day moving average is $5.54 and its 200-day moving average is $4.54.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.02. Shoals Technologies Group had a return on equity of 7.57% and a net margin of 5.27%.The firm had revenue of $110.84 million for the quarter, compared to analyst estimates of $104.87 million. During the same quarter in the prior year, the company earned $0.10 EPS. Shoals Technologies Group's revenue was up 11.7% on a year-over-year basis. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Analysts expect that Shoals Technologies Group, Inc. will post 0.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wall Street Zen cut Shoals Technologies Group from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 17th. BNP Paribas Exane cut Shoals Technologies Group from a "neutral" rating to an "underperform" rating and set a $4.00 target price for the company. in a report on Thursday, May 15th. Jefferies Financial Group upgraded Shoals Technologies Group from a "hold" rating to a "buy" rating and upped their target price for the company from $4.90 to $7.20 in a report on Monday, July 7th. The Goldman Sachs Group upped their price target on Shoals Technologies Group from $5.00 to $6.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Finally, Citigroup increased their price target on Shoals Technologies Group from $4.50 to $5.50 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Fourteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $9.15.

Shoals Technologies Group Company Profile

Shoals Technologies Group, Inc provides electrical balance of system (EBOS) solutions and components for solar, battery energy, and electric vehicle (EV) charging applications in the United States and internationally. The company designs, manufactures, and sells system solutions for both homerun and combine-as-you-go wiring architectures, as well as offers technical support services.