Cubist Systematic Strategies LLC Has $1.89 Million Holdings in Shoals Technologies Group, Inc. $SHLS

Key Points

• Cubist Systematic Strategies LLC significantly increased its holdings in Shoals Technologies Group by 1,741.0%, acquiring a total of 568,862 shares valued at approximately $1.89 million.
• Multiple hedge funds have also expanded their investments in Shoals Technologies Group, including Wellington Management Group, which boosted its stake by 51.9%, now owning 21.6 million shares worth $71.8 million.
• Shoals Technologies Group recently reported an earnings surprise with an EPS of $0.10, exceeding analyst expectations of $0.08 and showing revenue growth of 11.7% year-over-year.

Cubist Systematic Strategies LLC lifted its holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 1,741.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 568,862 shares of the company's stock after purchasing an additional 537,962 shares during the quarter. Cubist Systematic Strategies LLC owned 0.34% of Shoals Technologies Group worth $1,889,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cerity Partners LLC bought a new position in shares of Shoals Technologies Group in the first quarter worth $43,000. MQS Management LLC acquired a new stake in shares of Shoals Technologies Group in the first quarter valued at $43,000. American Trust acquired a new stake in shares of Shoals Technologies Group in the fourth quarter valued at $72,000. 49 Wealth Management LLC acquired a new stake in shares of Shoals Technologies Group in the fourth quarter valued at $74,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Shoals Technologies Group in the first quarter valued at $44,000.

Shoals Technologies Group Stock Up 3.5%

NASDAQ:SHLS traded up $0.23 during trading hours on Wednesday, hitting $6.88. 6,421,578 shares of the company's stock traded hands, compared to its average volume of 6,335,867. The firm has a market cap of $1.15 billion, a P/E 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 company has a debt-to-equity ratio of 0.23, a quick ratio of 1.64 and a current ratio of 2.34. The stock's fifty day moving average price is $5.83 and its two-hundred day moving average price is $4.67.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $110.84 million for the quarter, compared to analyst estimates of $104.87 million. Shoals Technologies Group had a return on equity of 7.57% and a net margin of 5.27%.Shoals Technologies Group's quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 earnings per share. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, research analysts expect that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on SHLS shares. Barclays upped their price objective on Shoals Technologies Group from $4.00 to $7.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Guggenheim upped their price objective on 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 upgraded Shoals Technologies Group from a "neutral" rating to a "buy" rating and set a $10.00 price objective for the company in a report on Thursday, August 7th. BNP Paribas restated an "underperform" rating and issued a $4.00 price objective (down previously from $4.50) on shares of Shoals Technologies Group in a report on Thursday, May 15th. Finally, Jefferies Financial Group upped their price objective on Shoals Technologies Group from $6.00 to $9.00 and gave the company a "buy" rating in a report on Monday. Fourteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $9.24.

Shoals Technologies Group 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.