Vanguard Group Inc. Sells 3,410,808 Shares of Shoals Technologies Group, Inc. $SHLS

Key Points

• Vanguard Group Inc. reduced its stake in Shoals Technologies Group by 19.9%, selling over 3.4 million shares, and currently holds 13.75 million shares valued at approximately $45.66 million.
• The company's recent earnings report showed a profit of $0.10 per share, exceeding estimates, with quarterly revenue of $110.84 million, up 11.7% from the previous year.
• A number of analysts have lowered their price targets on SHLS stock, with consensus rating at "Moderate Buy" and an average price target of $9.15.

Vanguard Group Inc. reduced its stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 19.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,752,775 shares of the company's stock after selling 3,410,808 shares during the period. Vanguard Group Inc. owned approximately 8.24% of Shoals Technologies Group worth $45,659,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Cerity Partners LLC bought a new stake in shares of Shoals Technologies Group in the 1st quarter valued at approximately $43,000. MQS Management LLC acquired a new position in shares of Shoals Technologies Group in the 1st quarter worth approximately $43,000. American Trust acquired a new position in shares of Shoals Technologies Group in the 4th quarter worth approximately $72,000. 49 Wealth Management LLC acquired a new position in shares of Shoals Technologies Group in the 4th quarter worth approximately $74,000. Finally, State of Wyoming boosted its holdings in shares of Shoals Technologies Group by 250.7% in the 4th quarter. State of Wyoming now owns 15,117 shares of the company's stock worth $84,000 after acquiring an additional 10,806 shares in the last quarter.

Shoals Technologies Group Trading Up 1.4%

Shares of SHLS traded up $0.09 during trading hours on Thursday, reaching $6.59. The stock had a trading volume of 2,114,097 shares, compared to its average volume of 6,312,327. 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, Inc. has a 52 week low of $2.71 and a 52 week high of $7.13. The firm has a 50-day moving average of $5.51 and a 200 day moving average of $4.52. The company has a market cap of $1.10 billion, a P/E ratio of 50.70, a P/E/G ratio of 0.80 and a beta of 1.61.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.02. Shoals Technologies Group had a net margin of 5.27% and a return on equity of 7.57%. The business had revenue of $110.84 million during the quarter, compared to analysts' expectations of $104.87 million. During the same quarter in the prior year, the company earned $0.10 EPS. The firm's quarterly 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. On average, sell-side analysts expect that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SHLS. Jefferies Financial Group raised Shoals Technologies Group from a "hold" rating to a "buy" rating and boosted their target price for the stock from $4.90 to $7.20 in a report on Monday, July 7th. Barclays boosted their target price on Shoals Technologies Group from $4.00 to $7.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Roth Capital raised Shoals Technologies Group from a "neutral" rating to a "buy" rating and set a $10.00 target price on the stock in a report on Thursday, August 7th. Wall Street Zen downgraded Shoals Technologies Group from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 17th. Finally, UBS Group reduced their price objective on Shoals Technologies Group from $7.50 to $7.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Fourteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $9.15.

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.