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. lessened its holdings in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 19.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,752,775 shares of the company's stock after selling 3,410,808 shares during the period. Vanguard Group Inc. owned about 8.24% of Shoals Technologies Group worth $45,659,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SHLS. Pacer Advisors Inc. acquired a new position in shares of Shoals Technologies Group during the 1st quarter worth approximately $5,350,000. Goodlander Investment Management LLC acquired a new position in shares of Shoals Technologies Group during the 4th quarter worth approximately $8,295,000. Wellington Management Group LLP grew its position in shares of Shoals Technologies Group by 8.6% during the 4th quarter. Wellington Management Group LLP now owns 14,233,342 shares of the company's stock worth $78,710,000 after purchasing an additional 1,125,938 shares in the last quarter. Royce & Associates LP grew its position in shares of Shoals Technologies Group by 519.8% during the 1st quarter. Royce & Associates LP now owns 1,053,662 shares of the company's stock worth $3,498,000 after purchasing an additional 883,662 shares in the last quarter. Finally, Encompass Capital Advisors LLC grew its position in shares of Shoals Technologies Group by 14.5% during the 4th quarter. Encompass Capital Advisors LLC now owns 5,410,245 shares of the company's stock worth $29,919,000 after purchasing an additional 683,642 shares in the last quarter.

Analysts Set New Price Targets

Several analysts recently issued reports on SHLS shares. Mizuho lowered shares of Shoals Technologies Group from an "outperform" rating to a "neutral" rating and set a $7.00 price target on the stock. in a research report on Monday, July 14th. BNP Paribas reiterated an "underperform" rating and set a $4.00 price target (down previously from $4.50) on shares of Shoals Technologies Group in a research report on Thursday, May 15th. BNP Paribas Exane lowered shares of Shoals Technologies Group from a "neutral" rating to an "underperform" rating and set a $4.00 price target on the stock. in a research report on Thursday, May 15th. Barclays increased their price target on shares of Shoals Technologies Group from $4.00 to $7.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Finally, Citigroup increased their price target on shares of Shoals Technologies Group from $4.50 to $5.50 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $9.15.

Shoals Technologies Group Price Performance

NASDAQ:SHLS traded down $0.08 on Friday, hitting $6.51. The company had a trading volume of 2,362,505 shares, compared to its average volume of 6,216,846. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 50.08, a PEG ratio of 0.80 and a beta of 1.62. The company has a current ratio of 2.34, a quick ratio of 1.64 and a debt-to-equity ratio of 0.23. The firm has a 50 day moving average of $5.54 and a two-hundred day moving average of $4.54. Shoals Technologies Group, Inc. has a 52 week low of $2.71 and a 52 week high of $7.13.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.08 by $0.02. The business had revenue of $110.84 million during the quarter, compared to the consensus estimate of $104.87 million. Shoals Technologies Group had a net margin of 5.27% and a return on equity of 7.57%. The firm's revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.10 EPS. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, research analysts anticipate 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.