Edgestream Partners L.P. Takes $2.23 Million Position in Shoals Technologies Group, Inc. $SHLS

Key Points

• Edgestream Partners acquired 339,726 Shoals Technologies Group shares worth approximately $2.23 million, representing about 0.20% of the company. Other institutions, including AQR Capital Management and Royal Bank of Canada, also increased their holdings.
• Shoals reported quarterly EPS of $0.07 versus the $0.06 consensus estimate, while revenue reached $140.56 million—up 74.4% year over year and above expectations.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $10.46 price target. However, company insiders recently sold shares, including 54,449 shares sold by CFO Dominic Bardos.

Edgestream Partners L.P. bought a new position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 339,726 shares of the company's stock, valued at approximately $2,235,000. Edgestream Partners L.P. owned about 0.20% of Shoals Technologies Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of SHLS. Royal Bank of Canada grew its stake in Shoals Technologies Group by 292.5% during the 1st quarter. Royal Bank of Canada now owns 106,531 shares of the company's stock valued at $353,000 after purchasing an additional 79,392 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Shoals Technologies Group by 184.7% in the 1st quarter. AQR Capital Management LLC now owns 922,358 shares of the company's stock valued at $2,975,000 after purchasing an additional 598,407 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Shoals Technologies Group during the 1st quarter valued at approximately $57,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Shoals Technologies Group by 8.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 517,507 shares of the company's stock valued at $1,718,000 after buying an additional 38,983 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of Shoals Technologies Group by 1.9% during the second quarter. Legal & General Group Plc now owns 195,828 shares of the company's stock worth $832,000 after buying an additional 3,601 shares in the last quarter.

Insider Transactions at Shoals Technologies Group

In other news, insider Bobbie Lee King, Jr. sold 10,000 shares of Shoals Technologies Group stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $10.41, for a total value of $104,100.00. Following the completion of the transaction, the insider directly owned 98,918 shares of the company's stock, valued at approximately $1,029,736.38. The trade was a 9.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Dominic Bardos sold 54,449 shares of the business's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $8.48, for a total transaction of $461,727.52. Following the sale, the chief financial officer directly owned 394,979 shares of the company's stock, valued at approximately $3,349,421.92. This represents a 12.12% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.81% of the company's stock.

Shoals Technologies Group Stock Performance

Shares of SHLS opened at $8.74 on Monday. The business's fifty day moving average price is $10.29 and its 200 day moving average price is $8.85. Shoals Technologies Group, Inc. has a 12-month low of $4.43 and a 12-month high of $13.18. The stock has a market capitalization of $1.46 billion, a PE ratio of 43.70, a price-to-earnings-growth ratio of 1.06 and a beta of 1.93. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.84 and a quick ratio of 1.07.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.07 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.01. Shoals Technologies Group had a net margin of 6.27% and a return on equity of 10.03%. The firm had revenue of $140.56 million during the quarter, compared to the consensus estimate of $129.16 million. The business's quarterly revenue was up 74.4% on a year-over-year basis. Equities research analysts forecast that Shoals Technologies Group, Inc. will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Shoals Technologies Group from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, July 6th. The Goldman Sachs Group increased their price objective on shares of Shoals Technologies Group from $11.00 to $13.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. UBS Group raised their price objective on shares of Shoals Technologies Group from $11.00 to $12.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Jefferies Financial Group boosted their target price on shares of Shoals Technologies Group from $10.00 to $12.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. increased their price target on shares of Shoals Technologies Group from $9.00 to $10.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $10.46.

Shoals Technologies Group Profile

Shoals Technologies Group, Inc is a leading provider of electrical balance-of-system (BOS) solutions for the solar energy industry. The company designs, engineers and manufactures a comprehensive portfolio of products, including junction boxes, combiner boxes, cable assemblies, power distribution units and monitoring systems. These components are critical to interconnecting photovoltaic modules, optimizing energy output and ensuring safe, reliable performance across solar installations.

Founded in 1996 and headquartered in Portland, Tennessee, Shoals has grown its manufacturing and operations footprint to serve customers around the globe.

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