Ieq Capital LLC Invests $235,000 in Shoals Technologies Group, Inc. $SHLS

Key Points

• Ieq Capital LLC purchased a new stake in Shoals Technologies Group, acquiring 70,822 shares valued at approximately $235,000 in the first quarter.
• Shoals Technologies Group reported $110.84 million in quarterly revenue, exceeding analyst expectations of $104.87 million, with an earnings per share of $0.10.
• Research analysts have mixed views on the stock, with 14 Buy ratings and a price target averaging $9.15, reflecting varied confidence in the company's potential growth.

Ieq Capital LLC bought a new position in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 70,822 shares of the company's stock, valued at approximately $235,000.

Other institutional investors have also made changes to their positions in the company. Goodlander Investment Management LLC acquired a new stake in shares of Shoals Technologies Group during the fourth quarter worth approximately $8,295,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Shoals Technologies Group during the first quarter worth approximately $65,000. Janney Montgomery Scott LLC boosted its holdings in shares of Shoals Technologies Group by 187.9% during the first 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 period. Schonfeld Strategic Advisors LLC boosted its holdings in shares of Shoals Technologies Group by 189.1% during the fourth 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 period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Shoals Technologies Group by 45.3% during the fourth 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 period.

Shoals Technologies Group Stock Down 0.6%

NASDAQ SHLS traded down $0.04 during trading on Friday, reaching $6.88. The company's stock had a trading volume of 3,491,812 shares, compared to its average volume of 5,517,151. 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 stock has a market capitalization of $1.15 billion, a PE ratio of 52.93, a PEG ratio of 0.85 and a beta of 1.63. The business has a 50-day moving average price of $5.89 and a 200-day moving average price of $4.72. Shoals Technologies Group, Inc. has a 1-year low of $2.71 and a 1-year 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.02. The firm had revenue of $110.84 million during the quarter, compared to analysts' expectations of $104.87 million. Shoals Technologies Group had a net margin of 5.27% and a return on equity of 7.57%. The company's revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 earnings per share. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, research analysts forecast that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wall Street Zen cut shares of Shoals Technologies Group from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 17th. BNP Paribas Exane cut shares of Shoals Technologies Group from a "neutral" rating to an "underperform" rating and set a $4.00 price target for the company. in a report on Thursday, May 15th. 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 report on Thursday, August 7th. BNP Paribas restated an "underperform" rating and set a $4.00 price target (down from $4.50) on shares of Shoals Technologies Group in a report on Thursday, May 15th. Finally, Guggenheim raised their price target on shares of Shoals Technologies Group from $6.00 to $8.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Fourteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Shoals Technologies Group has a consensus rating of "Moderate Buy" and a consensus price target of $9.33.

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.