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 cut its holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 36.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 293,637 shares of the company's stock after selling 166,738 shares during the quarter. Swedbank AB owned 0.18% of Shoals Technologies Group worth $975,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MQS Management LLC bought a new position in shares of Shoals Technologies Group during the 1st quarter valued at $43,000. Cerity Partners LLC purchased a new position in shares of Shoals Technologies Group during the first quarter valued at about $43,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Shoals Technologies Group during the first quarter valued at about $44,000. Virtu Financial LLC purchased a new position in shares of Shoals Technologies Group during the first quarter valued at about $46,000. Finally, FORA Capital LLC bought a new position in shares of Shoals Technologies Group in the 1st quarter valued at about $51,000.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Mizuho downgraded shares of Shoals Technologies Group from an "outperform" rating to a "neutral" rating and set a $7.00 price target for the company. in a report on Monday, July 14th. Jefferies Financial Group raised their target price on shares of Shoals Technologies Group from $6.00 to $9.00 and gave the stock a "buy" rating in a research report on Monday, September 8th. UBS Group cut their price objective on shares of Shoals Technologies Group from $7.50 to $7.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Guggenheim lifted their price target 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. Finally, The Goldman Sachs Group lifted their price target on shares of Shoals Technologies Group from $7.00 to $8.00 and gave the stock a "buy" rating in a report on Thursday, September 11th. Thirteen equities 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $9.20.

Shoals Technologies Group Price Performance

Shares of SHLS stock traded up $0.12 during mid-day trading on Wednesday, hitting $7.23. 4,958,749 shares of the stock were exchanged, compared to its average volume of 4,894,577. Shoals Technologies Group, Inc. has a 52-week low of $2.71 and a 52-week high of $7.62. The company has a quick ratio of 1.64, a current ratio of 2.34 and a debt-to-equity ratio of 0.23. The firm has a fifty day moving average of $5.97 and a 200 day moving average of $4.79. The company has a market cap of $1.21 billion, a PE ratio of 55.62, a price-to-earnings-growth ratio of 0.87 and a beta of 1.63.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $110.84 million during the quarter, compared to the consensus estimate of $104.87 million. During the same quarter in the prior year, the firm earned $0.10 EPS. The company's revenue for the quarter 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. 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.