Shoals Technologies Group, Inc. $SHLS Shares Sold by Swedbank AB

Key Points

• Swedbank AB has reduced its stake in Shoals Technologies Group by 36.2%, owning approximately $975,000 worth of the company's stock after selling 166,738 shares.
• In its latest earnings report, Shoals Technologies Group posted $0.10 earnings per share, exceeding analyst expectations and reporting revenue growth of 11.7% year-over-year.
• Analysts have set various target prices for Shoals Technologies Group, with the average rating being a "Moderate Buy" and an average price target of $9.20.

Swedbank AB decreased its holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 36.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 293,637 shares of the company's stock after selling 166,738 shares during the period. Swedbank AB owned 0.18% of Shoals Technologies Group worth $975,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SHLS. Wellington Management Group LLP boosted its stake in Shoals Technologies Group by 51.9% during the first quarter. Wellington Management Group LLP now owns 21,615,890 shares of the company's stock valued at $71,765,000 after buying an additional 7,382,548 shares during the last quarter. CenterBook Partners LP bought a new position in Shoals Technologies Group during the first quarter valued at approximately $12,489,000. T. Rowe Price Investment Management Inc. bought a new position in Shoals Technologies Group during the first quarter valued at approximately $7,712,000. Pacer Advisors Inc. bought a new position in Shoals Technologies Group during the first quarter valued at approximately $5,350,000. Finally, Nuveen LLC bought a new position in Shoals Technologies Group during the first quarter valued at approximately $3,589,000.

Shoals Technologies Group Stock Down 3.4%

NASDAQ SHLS traded down $0.26 during midday trading on Friday, hitting $7.29. 7,028,779 shares of the company traded hands, compared to its average volume of 4,971,383. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.34 and a quick ratio of 1.64. The company has a market cap of $1.22 billion, a PE ratio of 56.08, a price-to-earnings-growth ratio of 0.93 and a beta of 1.63. The company's 50-day simple moving average is $6.03 and its 200-day simple moving average is $4.85. Shoals Technologies Group, Inc. has a 52 week low of $2.71 and a 52 week high of $7.76.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02. The business had revenue of $110.84 million for the quarter, compared to analysts' expectations of $104.87 million. Shoals Technologies Group had a return on equity of 7.57% and a net margin of 5.27%.The business's revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.10 EPS. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities research analysts forecast that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wall Street Zen lowered Shoals Technologies Group from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 17th. Barclays increased their price target 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. Jefferies Financial Group increased their price target on Shoals Technologies Group from $6.00 to $9.00 and gave the stock a "buy" rating in a report on Monday, September 8th. UBS Group reduced their price target 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. Finally, The Goldman Sachs Group increased their price target on Shoals Technologies Group from $7.00 to $8.00 and gave the stock a "buy" rating in a report on Thursday, September 11th. Thirteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $9.15.

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.