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. lifted its stake in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 5.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,791,182 shares of the company's stock after acquiring an additional 375,271 shares during the quarter. Invesco Ltd. owned about 4.07% of Shoals Technologies Group worth $22,547,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Cerity Partners LLC bought a new stake in shares of Shoals Technologies Group during the 1st quarter worth about $43,000. MQS Management LLC bought a new stake in shares of Shoals Technologies Group during the 1st quarter worth about $43,000. American Trust bought a new stake in Shoals Technologies Group during the 4th quarter valued at approximately $72,000. 49 Wealth Management LLC bought a new stake in Shoals Technologies Group during the 4th quarter valued at approximately $74,000. Finally, State of Wyoming boosted its stake in Shoals Technologies Group by 250.7% during the 4th quarter. State of Wyoming now owns 15,117 shares of the company's stock valued at $84,000 after purchasing an additional 10,806 shares during the period.

Shoals Technologies Group Trading Up 0.3%

Shoals Technologies Group stock opened at $6.15 on Thursday. The business has a 50 day moving average price of $5.36 and a two-hundred day moving average price of $4.43. The company has a quick ratio of 1.64, a current ratio of 2.34 and a debt-to-equity ratio of 0.23. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 47.31, a price-to-earnings-growth ratio of 0.75 and a beta of 1.61. Shoals Technologies Group, Inc. has a 12 month low of $2.71 and a 12 month high of $7.00.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last posted 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. The firm had revenue of $110.84 million during the quarter, compared to analysts' expectations of $104.87 million. Shoals Technologies Group had a return on equity of 7.57% and a net margin of 5.27%.The company's revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 EPS. 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.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SHLS. UBS Group decreased their target price on Shoals Technologies Group from $7.50 to $7.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Barclays increased their target price on Shoals Technologies Group from $4.00 to $7.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. The Goldman Sachs Group increased their target price on Shoals Technologies Group from $5.00 to $6.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Guggenheim increased their target price on Shoals Technologies Group from $6.00 to $8.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Finally, Mizuho downgraded Shoals Technologies Group from an "outperform" rating to a "neutral" rating and set a $7.00 target price for the company. in a research note on Monday, July 14th. Fourteen equities research 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. Based on data from MarketBeat.com, the company 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.

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