Maven Securities LTD Purchases 218,909 Shares of Shoals Technologies Group, Inc. $SHLS

Key Points

• Maven Securities LTD increased its stake in Shoals Technologies Group by 437.8%, now owning 268,909 shares valued at $893,000.
• Shoals Technologies Group reported $0.10 earnings per share for Q2, surpassing estimates, with revenue growing 11.7% year-over-year to $110.84 million.
• Analyst ratings show a consensus of "Moderate Buy" for Shoals, with a price target averaging $9.15, despite some recent downgrades.

Maven Securities LTD increased its holdings in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 437.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 268,909 shares of the company's stock after buying an additional 218,909 shares during the period. Maven Securities LTD owned about 0.16% of Shoals Technologies Group worth $893,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SHLS. Wellington Management Group LLP increased its stake in shares of Shoals Technologies Group by 51.9% in the 1st quarter. Wellington Management Group LLP now owns 21,615,890 shares of the company's stock valued at $71,765,000 after acquiring an additional 7,382,548 shares in the last quarter. Invesco Ltd. grew its stake in shares of Shoals Technologies Group by 5.8% in the 1st quarter. Invesco Ltd. now owns 6,791,182 shares of the company's stock worth $22,547,000 after acquiring an additional 375,271 shares in the last quarter. Encompass Capital Advisors LLC grew its stake in shares of Shoals Technologies Group by 14.5% in the 4th quarter. Encompass Capital Advisors LLC now owns 5,410,245 shares of the company's stock worth $29,919,000 after acquiring an additional 683,642 shares in the last quarter. CenterBook Partners LP bought a new stake in shares of Shoals Technologies Group in the 1st quarter worth $12,489,000. Finally, Frontier Capital Management Co. LLC grew its stake in shares of Shoals Technologies Group by 34.5% in the 4th quarter. Frontier Capital Management Co. LLC now owns 2,501,876 shares of the company's stock worth $13,835,000 after acquiring an additional 641,328 shares in the last quarter.

Shoals Technologies Group Stock Performance

NASDAQ SHLS traded up $0.72 during trading on Friday, hitting $6.48. 4,145,968 shares of the company's stock traded hands, compared to its average volume of 5,840,786. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 49.85, a PEG ratio of 0.71 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. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.64 and a current ratio of 2.34. The business has a 50 day moving average of $5.40 and a 200-day moving average of $4.46.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $104.87 million. During the same period in the prior year, the business posted $0.10 earnings per share. The company'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. As a group, equities research analysts anticipate that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SHLS has been the topic of a number of research analyst reports. UBS Group cut their price target on shares of Shoals Technologies Group from $7.50 to $7.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Roth Capital raised shares of Shoals Technologies Group from a "neutral" rating to a "buy" rating and set a $10.00 price target on the stock in a report on Thursday, August 7th. BNP Paribas reissued an "underperform" rating and issued a $4.00 price target (down from $4.50) on shares of Shoals Technologies Group in a report on Thursday, May 15th. Barclays boosted their price target on shares of Shoals Technologies Group from $4.00 to $7.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Finally, BNP Paribas Exane downgraded shares of Shoals Technologies Group from a "neutral" rating to an "underperform" rating and set a $4.00 price target on the stock. in a report on Thursday, May 15th. Fourteen analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $9.15.

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.