Harvest Portfolios Group Inc. Makes New Investment in Shoals Technologies Group, Inc. $SHLS

Key Points

• Harvest Portfolios Group Inc. acquired a new stake in Shoals Technologies Group, purchasing 63,118 shares valued at approximately $210,000 during the first quarter.
• Several institutional investors, including Wellington Management Group, have significantly increased their holdings in Shoals, underscoring growing interest in the stock.
• Shoals Technologies Group reported better-than-expected earnings of $0.10 per share for the quarter, beating the consensus estimate of $0.08, along with an 11.7% increase in year-over-year revenue.

Harvest Portfolios Group Inc. purchased a new position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 63,118 shares of the company's stock, valued at approximately $210,000.

Other large investors have also recently made changes to their positions in the company. MQS Management LLC acquired a new position in Shoals Technologies Group during the first quarter worth $43,000. Cerity Partners LLC purchased a new stake in shares of Shoals Technologies Group in the 1st quarter valued at $43,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Shoals Technologies Group in the 1st quarter valued at $44,000. Virtu Financial LLC purchased a new stake in shares of Shoals Technologies Group in the 1st quarter valued at $46,000. Finally, Pallas Capital Advisors LLC purchased a new stake in shares of Shoals Technologies Group in the 1st quarter valued at $64,000.

Shoals Technologies Group Stock Performance

Shares of NASDAQ SHLS traded down $0.08 during trading hours on Monday, reaching $6.51. The stock had a trading volume of 2,362,505 shares, compared to its average volume of 6,216,846. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 50.08, a PEG ratio of 0.80 and a beta of 1.62. The company has a current ratio of 2.34, a quick ratio of 1.64 and a debt-to-equity ratio of 0.23. Shoals Technologies Group, Inc. has a fifty-two week low of $2.71 and a fifty-two week high of $7.13. The firm has a 50-day moving average of $5.54 and a 200-day moving average of $4.54.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.02. Shoals Technologies Group had a return on equity of 7.57% and a net margin of 5.27%.The firm had revenue of $110.84 million during the quarter, compared to analysts' expectations of $104.87 million. During the same period in the prior year, the firm earned $0.10 EPS. The business's 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. Equities research analysts predict that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Citigroup upped their price target on Shoals Technologies Group from $4.50 to $5.50 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Guggenheim upped their price target on Shoals Technologies Group from $6.00 to $8.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Barclays upped their price target on Shoals Technologies Group from $4.00 to $7.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Roth Capital upgraded Shoals Technologies Group from a "neutral" rating to a "buy" rating and set a $10.00 price objective on the stock in a report on Thursday, August 7th. Finally, BNP Paribas reiterated 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. Fourteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Shoals Technologies Group currently has an average rating of "Moderate Buy" and a consensus target price of $9.15.

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.