Cubist Systematic Strategies LLC Has $1.89 Million Stock 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 first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 568,862 shares of the company's stock after buying an additional 537,962 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.34% of Shoals Technologies Group worth $1,889,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Goodlander Investment Management LLC bought a new position in shares of Shoals Technologies Group in the fourth quarter valued at about $8,295,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Shoals Technologies Group in the first quarter valued at about $65,000. Janney Montgomery Scott LLC raised its holdings in Shoals Technologies Group by 187.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 269,096 shares of the company's stock worth $893,000 after purchasing an additional 175,627 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in Shoals Technologies Group by 189.1% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 123,695 shares of the company's stock worth $684,000 after purchasing an additional 80,911 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in 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 purchasing an additional 587,235 shares during the last quarter.

Shoals Technologies Group Trading Down 0.6%

Shares of Shoals Technologies Group stock traded down $0.04 during 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 firm has a market capitalization of $1.15 billion, a P/E ratio of 52.93, a price-to-earnings-growth ratio of 0.85 and a beta of 1.63. Shoals Technologies Group, Inc. has a 1-year low of $2.71 and a 1-year high of $7.62. The firm's fifty day moving average price is $5.89 and its 200 day moving average price is $4.72. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.34 and a quick ratio of 1.64.

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. The company had revenue of $110.84 million during 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%.The company's revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 EPS. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts expect that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

SHLS has been the subject of a number of recent research reports. UBS Group dropped their price target on shares of Shoals Technologies Group from $7.50 to $7.00 and set a "buy" rating for the company in a research note 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 research note on Thursday, August 7th. Guggenheim boosted their price target on shares of Shoals Technologies Group from $6.00 to $8.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Mizuho downgraded shares of Shoals Technologies Group from an "outperform" rating to a "neutral" rating and set a $7.00 price target for the company. in a research note on Monday, July 14th. Finally, 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. Fourteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $9.33.

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.