Comerica Bank Has $667,000 Position in Shoals Technologies Group, Inc. $SHLS

Key Points

• Comerica Bank increased its holdings in Shoals Technologies Group by 23.6% during Q1, acquiring an additional 38,328 shares, bringing its total to 200,976 shares valued at approximately $667,000.
• Shoals Technologies Group reported a quarterly revenue of $110.84 million, exceeding analyst expectations, with earnings per share of $0.10 compared to the consensus estimate of $0.08.
• Analysts have mixed ratings on Shoals Technologies stock, with a consensus rating of "Moderate Buy" and an average target price of $9.15, reflecting potential growth opportunities amid fluctuating market sentiments.

Comerica Bank lifted its holdings in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 23.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 200,976 shares of the company's stock after acquiring an additional 38,328 shares during the period. Comerica Bank owned approximately 0.12% of Shoals Technologies Group worth $667,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. bought a new position in shares of Shoals Technologies Group during the 1st quarter worth about $7,712,000. Erste Asset Management GmbH lifted its holdings in shares of Shoals Technologies Group by 7.6% during the 1st quarter. Erste Asset Management GmbH now owns 3,867,306 shares of the company's stock worth $12,802,000 after acquiring an additional 273,500 shares during the period. Maven Securities LTD lifted its holdings in shares of Shoals Technologies Group by 437.8% during the 1st quarter. Maven Securities LTD now owns 268,909 shares of the company's stock worth $893,000 after acquiring an additional 218,909 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Shoals Technologies Group by 51.9% during the 1st quarter. Wellington Management Group LLP now owns 21,615,890 shares of the company's stock worth $71,765,000 after acquiring an additional 7,382,548 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Shoals Technologies Group by 617.2% during the 1st quarter. American Century Companies Inc. now owns 1,206,172 shares of the company's stock worth $4,004,000 after acquiring an additional 1,037,997 shares during the period.

Analysts Set New Price Targets

SHLS has been the subject of a number of analyst reports. Barclays raised their price objective on shares of Shoals Technologies Group from $4.00 to $7.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Guggenheim lifted their price target on shares of Shoals Technologies Group from $6.00 to $8.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Roth Capital raised shares of Shoals Technologies Group from a "neutral" rating to a "buy" rating and set a $10.00 price target for the company in a report on Thursday, August 7th. BNP Paribas reissued an "underperform" rating and set a $4.00 price target (down from $4.50) on shares of Shoals Technologies Group in a report on Thursday, May 15th. Finally, Wall Street Zen downgraded shares of Shoals Technologies Group from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 17th. Fourteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $9.24.

Shoals Technologies Group Price Performance

SHLS traded up $0.23 during midday trading on Wednesday, hitting $6.88. The company had a trading volume of 6,421,078 shares, compared to its average volume of 6,335,366. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.64 and a current ratio of 2.34. The company has a market capitalization of $1.15 billion, a PE ratio of 52.93, a P/E/G ratio of 0.88 and a beta of 1.63. Shoals Technologies Group, Inc. has a twelve month low of $2.71 and a twelve month high of $7.62. The firm's 50-day simple moving average is $5.83 and its 200-day simple moving average is $4.67.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.02. Shoals Technologies Group had a net margin of 5.27% and a return on equity of 7.57%. The firm had revenue of $110.84 million during the quarter, compared to analysts' expectations of $104.87 million. During the same quarter last year, the company posted $0.10 EPS. The company's quarterly revenue was up 11.7% compared to the same quarter last year. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts predict that Shoals Technologies Group, Inc. will post 0.29 EPS for the current fiscal year.

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.