Shoals Technologies Group, Inc. $SHLS Shares Sold by Goldman Sachs Group Inc.

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

Several other hedge funds have also modified their holdings of SHLS. MQS Management LLC acquired a new position in shares of Shoals Technologies Group during the 1st quarter worth about $43,000. Cerity Partners LLC acquired a new position in shares of Shoals Technologies Group during the 1st quarter worth about $43,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Shoals Technologies Group during the 1st quarter worth about $44,000. Virtu Financial LLC acquired a new position in shares of Shoals Technologies Group during the 1st quarter worth about $46,000. Finally, FORA Capital LLC acquired a new position in shares of Shoals Technologies Group during the 1st quarter worth about $51,000.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SHLS shares. Roth Capital upgraded 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 report on Thursday, August 7th. JPMorgan Chase & Co. upped their price target on shares of Shoals Technologies Group from $8.00 to $9.00 and gave the stock an "overweight" rating in a research report on Friday. Jefferies Financial Group increased their price objective 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. Wall Street Zen downgraded shares of Shoals Technologies Group from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 17th. Finally, UBS Group cut their price objective on shares of Shoals Technologies Group from $7.50 to $7.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Thirteen 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $9.15.

Shoals Technologies Group Stock Up 1.9%

SHLS stock traded up $0.15 during midday trading on Friday, hitting $7.70. The company's stock had a trading volume of 1,371,598 shares, compared to its average volume of 6,246,374. The company has a quick ratio of 1.64, a current ratio of 2.34 and a debt-to-equity ratio of 0.23. Shoals Technologies Group, Inc. has a 52-week low of $2.71 and a 52-week high of $7.76. The firm has a market capitalization of $1.29 billion, a P/E ratio of 58.95, a PEG ratio of 0.89 and a beta of 1.63. The firm has a 50-day simple moving average of $6.00 and a 200-day simple moving average of $4.82.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 EPS 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 company had revenue of $110.84 million during the quarter, compared to analysts' expectations of $104.87 million. During the same quarter last year, the company posted $0.10 EPS. The firm's revenue was up 11.7% compared to the same quarter last year. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities analysts forecast that Shoals Technologies Group, Inc. will post 0.29 EPS for the current 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.