Erste Asset Management GmbH Purchases 273,500 Shares of Shoals Technologies Group, Inc. $SHLS

Key Points

• Erste Asset Management GmbH increased its stake in Shoals Technologies by 7.6%, owning approximately 2.32% of the company worth $12.8 million after acquiring additional shares in the first quarter.
• Several hedge funds, including Goodlander Investment Management and Wealth Enhancement Advisory Services, have also made significant investments in Shoals Technologies, reflecting a growing interest in the stock.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Shoals Technologies, with an average price target of $9.15, indicating optimism about the company's future performance.

Erste Asset Management GmbH boosted its holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 7.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,867,306 shares of the company's stock after buying an additional 273,500 shares during the quarter. Erste Asset Management GmbH owned approximately 2.32% of Shoals Technologies Group worth $12,802,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Goodlander Investment Management LLC acquired a new stake in Shoals Technologies Group in the fourth quarter valued at about $8,295,000. Wealth Enhancement Advisory Services LLC bought a new position in Shoals Technologies Group in the first quarter valued at about $65,000. Janney Montgomery Scott LLC raised its position in Shoals Technologies Group by 187.9% in the first quarter. Janney Montgomery Scott LLC now owns 269,096 shares of the company's stock valued at $893,000 after purchasing an additional 175,627 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its position in Shoals Technologies Group by 189.1% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 123,695 shares of the company's stock valued at $684,000 after purchasing an additional 80,911 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Shoals Technologies Group by 45.3% during the fourth quarter. Ameriprise Financial Inc. now owns 1,882,420 shares of the company's stock worth $10,410,000 after acquiring an additional 587,235 shares during the last quarter.

Analyst Upgrades and Downgrades

SHLS has been the subject of a number of analyst reports. UBS Group lowered their price objective on Shoals Technologies Group from $7.50 to $7.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Roth Capital upgraded Shoals Technologies Group from a "neutral" rating to a "buy" rating and set a $10.00 price objective for the company in a research report on Thursday, August 7th. Barclays raised their target price on Shoals Technologies Group from $4.00 to $7.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. Guggenheim raised their target price 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. Finally, Mizuho cut 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's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $9.15.

Shoals Technologies Group Stock Performance

Shoals Technologies Group stock traded down $0.08 during mid-day trading on Tuesday, reaching $6.73. 3,137,555 shares of the company's stock were exchanged, compared to its average volume of 6,359,782. The business's fifty day simple moving average is $5.43 and its 200 day simple moving average is $4.47. The firm has a market capitalization of $1.13 billion, a PE ratio of 51.97, a P/E/G ratio of 0.79 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. The company has a quick ratio of 1.64, a current ratio of 2.34 and a debt-to-equity ratio of 0.23.

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

Shoals Technologies Group 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.