Shoals Technologies Group, Inc. $SHLS Shares Bought by Maven Securities LTD

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 position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 437.8% during the first quarter, according to its most recent Form 13F filing with the 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 reporting period.

A number of other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in shares of Shoals Technologies Group by 51.9% during the first quarter. Wellington Management Group LLP now owns 21,615,890 shares of the company's stock worth $71,765,000 after buying an additional 7,382,548 shares during the period. American Century Companies Inc. increased its stake in Shoals Technologies Group by 617.2% in the first quarter. American Century Companies Inc. now owns 1,206,172 shares of the company's stock valued at $4,004,000 after purchasing an additional 1,037,997 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Shoals Technologies Group in the first quarter valued at approximately $44,000. Nuveen LLC purchased a new position in Shoals Technologies Group in the first quarter valued at approximately $3,589,000. Finally, Virtu Financial LLC purchased a new position in Shoals Technologies Group in the first quarter valued at approximately $46,000.

Shoals Technologies Group Stock Performance

Shares of SHLS stock traded up $0.0150 during trading hours on Monday, reaching $6.4950. 1,389,019 shares of the company's stock were exchanged, compared to its average volume of 6,353,149. The company has a market cap of $1.09 billion, a P/E ratio of 49.89, a price-to-earnings-growth ratio of 0.79 and a beta of 1.61. The company's 50 day moving average is $5.40 and its two-hundred day moving average is $4.45. Shoals Technologies Group, Inc. has a 1 year low of $2.71 and a 1 year high of $7.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.34 and a quick ratio of 1.64.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last issued its earnings results 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. Shoals Technologies Group had a return on equity of 7.57% and a net margin of 5.27%.The business had revenue of $110.84 million during the quarter, compared to the consensus estimate of $104.87 million. During the same period in the prior year, the business posted $0.10 EPS. The company's revenue for the quarter 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 anticipate that Shoals Technologies Group, Inc. will post 0.29 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wall Street Zen lowered shares of Shoals Technologies Group from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 17th. Mizuho lowered shares of Shoals Technologies Group from an "outperform" rating to a "neutral" rating and set a $7.00 target price on the stock. in a research report on Monday, July 14th. Jefferies Financial Group upgraded shares of Shoals Technologies Group from a "hold" rating to a "buy" rating and raised their target price for the stock from $4.90 to $7.20 in a research report on Monday, July 7th. UBS Group lowered their target price on shares of Shoals Technologies Group from $7.50 to $7.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Finally, Guggenheim raised their target price on shares of Shoals Technologies Group from $6.00 to $8.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus 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.