Shoals Technologies Group, Inc. $SHLS Shares Acquired by Erste Asset Management GmbH

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 lifted its stake in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 7.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,867,306 shares of the company's stock after acquiring an additional 273,500 shares during the quarter. Erste Asset Management GmbH owned about 2.32% of Shoals Technologies Group worth $12,802,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Goodlander Investment Management LLC bought a new stake in Shoals Technologies Group during the fourth quarter worth approximately $8,295,000. Wealth Enhancement Advisory Services LLC bought a new stake in Shoals Technologies Group during the first quarter worth approximately $65,000. Janney Montgomery Scott LLC boosted its holdings in Shoals Technologies Group by 187.9% during the first quarter. Janney Montgomery Scott LLC now owns 269,096 shares of the company's stock worth $893,000 after buying an additional 175,627 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in Shoals Technologies Group by 189.1% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 123,695 shares of the company's stock worth $684,000 after buying an additional 80,911 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in 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 buying an additional 587,235 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. 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 report on Wednesday, August 6th. Citigroup raised their price objective on shares of Shoals Technologies Group from $4.50 to $5.50 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Barclays raised their price objective on shares of 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. Jefferies Financial Group raised shares of Shoals Technologies Group from a "hold" rating to a "buy" rating and raised their price objective for the stock from $4.90 to $7.20 in a research note on Monday, July 7th. Finally, BNP Paribas reaffirmed an "underperform" rating and issued a $4.00 price objective (down previously from $4.50) on shares of Shoals Technologies Group in a research note on Thursday, May 15th. Fourteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $9.15.

Shoals Technologies Group Trading Up 0.3%

Shares of NASDAQ:SHLS opened at $6.15 on Thursday. The firm has a fifty day moving average of $5.36 and a two-hundred day moving average of $4.43. The firm has a market capitalization of $1.03 billion, a P/E 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. 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 earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.02. The company had revenue of $110.84 million during the quarter, compared to analyst estimates of $104.87 million. Shoals Technologies Group had a net margin of 5.27% and a return on equity of 7.57%. The company's revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the business posted $0.10 EPS. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts expect that Shoals Technologies Group, Inc. will post 0.29 EPS for the current fiscal 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.

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