Invesco Ltd. Buys 375,271 Shares of Shoals Technologies Group, Inc. $SHLS

Key Points

• Invesco Ltd. increased its stake in Shoals Technologies Group, acquiring an additional 375,271 shares, bringing its total ownership to 6,791,182 shares or approximately 4.07% of the company.
• Shoals Technologies Group reported a quarterly EPS of $0.10, exceeding analyst expectations, with revenues of $110.84 million, an 11.7% increase year-over-year.
• Brokerages have mixed views on Shoals, with target prices ranging from $4.00 to $9.15, reflecting a general consensus rating of "Moderate Buy" among analysts.

Invesco Ltd. grew its stake in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 5.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,791,182 shares of the company's stock after purchasing an additional 375,271 shares during the quarter. Invesco Ltd. owned approximately 4.07% of Shoals Technologies Group worth $22,547,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. CenterBook Partners LP purchased a new stake in Shoals Technologies Group in the first quarter worth $12,489,000. Pacer Advisors Inc. purchased a new stake in Shoals Technologies Group in the first quarter worth $5,350,000. Goodlander Investment Management LLC purchased a new stake in Shoals Technologies Group in the fourth quarter worth $8,295,000. Wellington Management Group LLP lifted its stake in Shoals Technologies Group by 8.6% in the fourth quarter. Wellington Management Group LLP now owns 14,233,342 shares of the company's stock worth $78,710,000 after acquiring an additional 1,125,938 shares during the period. Finally, Royce & Associates LP lifted its stake in Shoals Technologies Group by 519.8% in the first quarter. Royce & Associates LP now owns 1,053,662 shares of the company's stock worth $3,498,000 after acquiring an additional 883,662 shares during the period.

Shoals Technologies Group Stock Up 0.6%

SHLS traded up $0.04 during trading on Tuesday, reaching $6.84. The stock had a trading volume of 6,084,129 shares, compared to its average volume of 5,988,468. The stock's 50 day moving average is $5.46 and its two-hundred day moving average is $4.49. 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 company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 52.62, a P/E/G ratio of 0.83 and a beta of 1.61. Shoals Technologies Group, Inc. has a one year low of $2.71 and a one year high of $7.13.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.02. The business had revenue of $110.84 million during the quarter, compared to the consensus estimate of $104.87 million. Shoals Technologies Group had a return on equity of 7.57% and a net margin of 5.27%.The firm's quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior 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. As a group, analysts expect that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

Analyst Ratings Changes

SHLS has been the subject of a number of research analyst reports. Mizuho lowered Shoals Technologies Group from an "outperform" rating to a "neutral" rating and set a $7.00 price target for the company. in a research note on Monday, July 14th. BNP Paribas reaffirmed an "underperform" rating and issued a $4.00 price target (down previously from $4.50) on shares of Shoals Technologies Group in a research note on Thursday, May 15th. Guggenheim raised their price target on Shoals Technologies Group from $6.00 to $8.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. The Goldman Sachs Group raised their price target on Shoals Technologies Group from $5.00 to $6.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Finally, Wall Street Zen lowered Shoals Technologies Group from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 17th. Fourteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Shoals Technologies Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $9.15.

About Shoals Technologies Group

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.