Strs Ohio Purchases New Stake in Shoals Technologies Group, Inc. $SHLS

Key Points

• Strs Ohio has acquired a new stake in Shoals Technologies Group, Inc., purchasing 57,100 shares valued at approximately $190,000 in the first quarter.
• In its latest quarterly report, Shoals Technologies Group reported $0.10 EPS, surpassing analyst estimates, with revenues of $110.84 million, indicating an 11.7% year-over-year growth.
• A variety of research firms have issued new ratings and price targets for Shoals Technologies Group, with the stock currently rated as a "Moderate Buy" and an average price target of $9.15.

Strs Ohio acquired a new position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 57,100 shares of the company's stock, valued at approximately $190,000.

A number of other hedge funds have also recently bought and sold shares of SHLS. Stratos Wealth Partners LTD. raised its stake in Shoals Technologies Group by 17.2% in the 1st quarter. Stratos Wealth Partners LTD. now owns 23,313 shares of the company's stock valued at $77,000 after acquiring an additional 3,415 shares during the period. Rhumbline Advisers boosted its stake in Shoals Technologies Group by 2.5% in the first quarter. Rhumbline Advisers now owns 248,924 shares of the company's stock worth $826,000 after buying an additional 6,112 shares in the last quarter. Cidel Asset Management Inc. boosted its stake in shares of Shoals Technologies Group by 17.0% during the first quarter. Cidel Asset Management Inc. now owns 68,852 shares of the company's stock valued at $229,000 after purchasing an additional 9,982 shares during the period. State of Wyoming boosted its stake in shares of Shoals Technologies Group by 250.7% during the fourth quarter. State of Wyoming now owns 15,117 shares of the company's stock valued at $84,000 after purchasing an additional 10,806 shares during the period. Finally, Keeley Teton Advisors LLC boosted its stake in shares of Shoals Technologies Group by 36.4% during the first quarter. Keeley Teton Advisors LLC now owns 44,259 shares of the company's stock valued at $147,000 after purchasing an additional 11,808 shares during the period.

Shoals Technologies Group Stock Up 6.9%

Shoals Technologies Group stock opened at $7.70 on Thursday. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 59.24, a price-to-earnings-growth ratio of 0.88 and a beta of 1.63. Shoals Technologies Group, Inc. has a 52 week low of $2.71 and a 52 week high of $8.20. The business's 50-day moving average price is $6.13 and its 200 day moving average price is $4.95. 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 data on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.08 by $0.02. Shoals Technologies Group had a return on equity of 7.57% and a net margin of 5.27%.The company had revenue of $110.84 million for the quarter, compared to analyst estimates of $104.87 million. During the same period last year, the company earned $0.10 earnings per share. Shoals Technologies Group's quarterly revenue was up 11.7% compared to the same quarter last year. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts anticipate that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on SHLS. Mizuho downgraded Shoals Technologies Group from an "outperform" rating to a "neutral" rating and set a $7.00 price objective for the company. in a report on Monday, July 14th. Wall Street Zen cut Shoals Technologies Group from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 17th. Guggenheim raised their price objective 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. JPMorgan Chase & Co. raised their price objective on Shoals Technologies Group from $8.00 to $9.00 and gave the stock an "overweight" rating in a research note on Friday, September 19th. Finally, 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 research note on Thursday, August 7th. Thirteen analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently 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.

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