Shoals Technologies Group, Inc. $SHLS Shares Acquired by Comerica Bank

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 increased its position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 23.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 200,976 shares of the company's stock after acquiring an additional 38,328 shares during the quarter. 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 have also recently bought and sold shares of SHLS. MQS Management LLC acquired a new stake in Shoals Technologies Group during the first quarter worth approximately $43,000. Cerity Partners LLC purchased a new position in Shoals Technologies Group during the first quarter worth approximately $43,000. Caitong International Asset Management Co. Ltd purchased a new position in Shoals Technologies Group during the first quarter worth approximately $44,000. Virtu Financial LLC purchased a new position in Shoals Technologies Group during the first quarter worth approximately $46,000. Finally, Pallas Capital Advisors LLC purchased a new position in Shoals Technologies Group during the first quarter worth approximately $64,000.

Shoals Technologies Group Stock Down 0.6%

SHLS stock traded down $0.04 during mid-day trading on Friday, hitting $6.88. 3,491,812 shares of the company were exchanged, compared to its average volume of 5,517,151. The company has a market capitalization of $1.15 billion, a PE ratio of 52.93, a price-to-earnings-growth ratio of 0.85 and a beta of 1.63. The company has a current ratio of 2.34, a quick ratio of 1.64 and a debt-to-equity ratio of 0.23. Shoals Technologies Group, Inc. has a twelve month low of $2.71 and a twelve month high of $7.62. The firm has a fifty day simple moving average of $5.89 and a 200 day simple moving average of $4.72.

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. BNP Paribas reaffirmed an "underperform" rating and set a $4.00 price target (down previously from $4.50) on shares of Shoals Technologies Group in a research note on Thursday, May 15th. Roth Capital raised shares of Shoals Technologies Group from a "neutral" rating to a "buy" rating and set a $10.00 target price on the stock in a research note on Thursday, August 7th. Wall Street Zen downgraded shares of Shoals Technologies Group from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 17th. Mizuho downgraded shares of Shoals Technologies Group from an "outperform" rating to a "neutral" rating and set a $7.00 price target on the stock. in a research note on Monday, July 14th. Finally, Jefferies Financial Group lifted their price target on shares of Shoals Technologies Group from $6.00 to $9.00 and gave the stock a "buy" rating in a research note on Monday. Fourteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Shoals Technologies Group has a consensus rating of "Moderate Buy" and an average price target of $9.33.

About Shoals Technologies Group

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.