Goldman Sachs Group Inc. Lowers Stock Holdings in Shoals Technologies Group, Inc. $SHLS

Key Points

• Goldman Sachs Group Inc. reduced its holdings in Shoals Technologies Group by 23.8% during the first quarter, now owning 1,916,577 shares valued at approximately $6.36 million.
• Several hedge funds increased their positions in Shoals Technologies Group, with Wellington Management Group LLP boosting its holdings by 51.9% to 21.6 million shares.
• Brokerages have varying price targets for Shoals Technologies Group's stock, with analysts giving it a consensus rating of "Moderate Buy" and an average target price of $9.33.

Goldman Sachs Group Inc. lowered its holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 23.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,916,577 shares of the company's stock after selling 597,198 shares during the period. Goldman Sachs Group Inc. owned 1.15% of Shoals Technologies Group worth $6,363,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SHLS. Wellington Management Group LLP boosted its holdings in shares of Shoals Technologies Group by 51.9% in the 1st quarter. Wellington Management Group LLP now owns 21,615,890 shares of the company's stock valued at $71,765,000 after purchasing an additional 7,382,548 shares during the last quarter. CenterBook Partners LP acquired a new position in shares of Shoals Technologies Group in the 1st quarter valued at $12,489,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of Shoals Technologies Group in the 1st quarter valued at $7,712,000. Pacer Advisors Inc. acquired a new position in shares of Shoals Technologies Group in the 1st quarter valued at $5,350,000. Finally, Nuveen LLC acquired a new position in shares of Shoals Technologies Group in the 1st quarter valued at $3,589,000.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SHLS. UBS Group decreased their price target on shares of Shoals Technologies Group from $7.50 to $7.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Guggenheim raised 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. Barclays raised their price target on shares of Shoals Technologies Group from $4.00 to $7.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Jefferies Financial Group lifted their target price on shares of Shoals Technologies Group from $6.00 to $9.00 and gave the company a "buy" rating in a report on Monday, September 8th. Finally, Roth Capital upgraded 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 report on Thursday, August 7th. Fourteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Shoals Technologies Group has a consensus rating of "Moderate Buy" and a consensus target price of $9.33.

Shoals Technologies Group Stock Performance

NASDAQ:SHLS opened at $6.88 on Monday. The company has a current ratio of 2.34, a quick ratio of 1.64 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 52.93, a PEG ratio of 0.84 and a beta of 1.62. The firm's fifty day simple moving average is $5.89 and its 200 day simple moving average is $4.73. Shoals Technologies Group, Inc. has a twelve month low of $2.71 and a twelve month high of $7.62.

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 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 business had revenue of $110.84 million for the quarter, compared to analyst estimates of $104.87 million. During the same quarter in the previous year, the business posted $0.10 EPS. The business's quarterly revenue was up 11.7% on a year-over-year basis. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities research analysts expect that Shoals Technologies Group, Inc. will post 0.29 earnings per share 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.

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