Swedbank AB Raises Position in Shoals Technologies Group, Inc. $SHLS

Key Points

• Swedbank AB increased its stake in Shoals Technologies Group by 28.5% in the fourth quarter, adding 227,100 shares and bringing its total holding to 1,024,545 shares worth about $8.7 million.
• Shoals beat earnings expectations in its latest quarterly report, posting $0.07 EPS versus $0.06 expected and revenue of $140.56 million, up 74.4% year over year.
• Analyst sentiment remains mostly constructive despite some mixed target-price changes, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $9.64.

Swedbank AB grew its holdings in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 28.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,024,545 shares of the company's stock after purchasing an additional 227,100 shares during the period. Swedbank AB owned approximately 0.61% of Shoals Technologies Group worth $8,709,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SHLS. Royal Bank of Canada lifted its holdings in shares of Shoals Technologies Group by 292.5% during the first quarter. Royal Bank of Canada now owns 106,531 shares of the company's stock valued at $353,000 after purchasing an additional 79,392 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Shoals Technologies Group by 184.7% during the first quarter. AQR Capital Management LLC now owns 922,358 shares of the company's stock valued at $2,975,000 after purchasing an additional 598,407 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Shoals Technologies Group during the first quarter valued at approximately $57,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Shoals Technologies Group by 8.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 517,507 shares of the company's stock valued at $1,718,000 after purchasing an additional 38,983 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Shoals Technologies Group by 1.9% during the second quarter. Legal & General Group Plc now owns 195,828 shares of the company's stock valued at $832,000 after purchasing an additional 3,601 shares during the last quarter.

Shoals Technologies Group Price Performance

NASDAQ SHLS opened at $8.84 on Friday. Shoals Technologies Group, Inc. has a one year low of $3.81 and a one year high of $11.36. The stock has a 50-day moving average of $6.75 and a 200 day moving average of $8.33. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 44.20, a PEG ratio of 1.00 and a beta of 1.74. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.32 and a current ratio of 1.84.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. Shoals Technologies Group had a return on equity of 10.03% and a net margin of 6.27%.The company had revenue of $140.56 million during the quarter, compared to the consensus estimate of $129.16 million. The firm's revenue was up 74.4% compared to the same quarter last year. On average, sell-side analysts forecast that Shoals Technologies Group, Inc. will post 0.37 EPS for the current year.

Insider Buying and Selling

In other Shoals Technologies Group news, CFO Dominic Bardos sold 54,449 shares of Shoals Technologies Group stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $8.48, for a total value of $461,727.52. Following the completion of the sale, the chief financial officer owned 394,979 shares of the company's stock, valued at approximately $3,349,421.92. The trade was a 12.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.81% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. BNP Paribas Exane upgraded shares of Shoals Technologies Group from an "underperform" rating to a "neutral" rating and set a $9.00 target price for the company in a report on Wednesday, February 25th. Royal Bank Of Canada lowered their target price on shares of Shoals Technologies Group from $10.00 to $9.00 and set an "outperform" rating for the company in a report on Wednesday, February 25th. Jefferies Financial Group lowered their target price on shares of Shoals Technologies Group from $10.00 to $8.00 and set a "buy" rating for the company in a report on Wednesday, March 11th. JPMorgan Chase & Co. lifted their target price on shares of Shoals Technologies Group from $9.00 to $10.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, Morgan Stanley lowered their target price on shares of Shoals Technologies Group from $9.50 to $8.50 and set an "equal weight" rating for the company in a report on Wednesday, February 25th. Ten investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $9.64.

Shoals Technologies Group News Roundup

Here are the key news stories impacting Shoals Technologies Group this week:

• Positive Sentiment: UBS Group raised its price target on Shoals Technologies Group to $12 from $11 and reiterated a buy rating, signaling continued upside potential for the stock. Read More
• Positive Sentiment: Needham also initiated or maintained a buy rating, adding to the bullish analyst sentiment around the company. Read More
• Positive Sentiment: JPMorgan issued a positive forecast for Shoals Technologies Group, reinforcing expectations that the company can continue to perform well after its recent earnings beat and improved 2026 guidance. Read More
• Neutral Sentiment: Recent commentary focused on valuation after the earnings beat and upgraded guidance, suggesting investors are rechecking whether the stock’s rally is fully justified. Read More
• Negative Sentiment: CFO Dominic Bardos sold 54,449 shares in a disclosed SEC filing, trimming his stake by about 12%, which can sometimes be interpreted as a cautious signal by investors. Read More

Shoals Technologies Group Profile

Shoals Technologies Group, Inc is a leading provider of electrical balance-of-system (BOS) solutions for the solar energy industry. The company designs, engineers and manufactures a comprehensive portfolio of products, including junction boxes, combiner boxes, cable assemblies, power distribution units and monitoring systems. These components are critical to interconnecting photovoltaic modules, optimizing energy output and ensuring safe, reliable performance across solar installations.

Founded in 1996 and headquartered in Portland, Tennessee, Shoals has grown its manufacturing and operations footprint to serve customers around the globe.

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