Nuveen LLC Invests $3.59 Million in Shoals Technologies Group, Inc. $SHLS

Key Points

• Nuveen LLC has acquired a new stake in Shoals Technologies Group, investing approximately $3.59 million for 1,080,973 shares.
• Shoals Technologies Group's stock has received mixed ratings from analysts, with 14 analysts$9.15.
• The company reported Q2 earnings of $0.10 EPS and revenue of $110.84 million, exceeding analyst estimates and showing an 11.7% increase compared to the previous year.

Nuveen LLC purchased a new position in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,080,973 shares of the company's stock, valued at approximately $3,589,000. Nuveen LLC owned about 0.65% of Shoals Technologies Group at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SHLS. MQS Management LLC bought a new stake in shares of Shoals Technologies Group in the 1st quarter worth approximately $43,000. Cerity Partners LLC acquired a new stake in Shoals Technologies Group in the 1st quarter valued at approximately $43,000. Virtu Financial LLC acquired a new stake in Shoals Technologies Group in the 1st quarter valued at approximately $46,000. Pallas Capital Advisors LLC acquired a new stake in Shoals Technologies Group in the 1st quarter valued at approximately $64,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Shoals Technologies Group in the 1st quarter valued at approximately $65,000.

Analyst Ratings Changes

Several research firms recently commented on SHLS. Citigroup raised their target price on Shoals Technologies Group from $4.50 to $5.50 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Roth Capital upgraded Shoals Technologies Group from a "neutral" rating to a "buy" rating and set a $10.00 target price on the stock in a research report on Thursday, August 7th. BNP Paribas restated an "underperform" rating and issued a $4.00 target price (down from $4.50) on shares of Shoals Technologies Group in a research report on Thursday, May 15th. Wall Street Zen cut Shoals Technologies Group from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 17th. Finally, Guggenheim lifted their price target on Shoals Technologies Group from $6.00 to $8.00 and gave the company 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 assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $9.15.

Shoals Technologies Group Price Performance

Shares of SHLS stock traded down $0.08 during mid-day trading on Monday, hitting $6.51. 2,362,505 shares of the stock traded hands, compared to its average volume of 6,216,846. Shoals Technologies Group, Inc. has a twelve month low of $2.71 and a twelve month high of $7.13. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 50.08, a price-to-earnings-growth ratio of 0.80 and a beta of 1.62. The company's 50-day simple moving average is $5.54 and its 200-day simple moving average is $4.54. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.64 and a current ratio of 2.34.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.02. The business had revenue of $110.84 million during the quarter, compared to analyst estimates 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 was up 11.7% compared to the same quarter last year. During the same period last year, the company posted $0.10 EPS. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities research analysts expect that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

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.