T. Rowe Price Investment Management Inc. Makes New Investment in Shoals Technologies Group, Inc. $SHLS

Key Points

• T. Rowe Price Investment Management Inc. acquired 2,322,861 shares of Shoals Technologies Group, representing about 1.39% ownership, with the total investment valued at approximately $7.7 million.
• Several other firms, including Cerity Partners LLC and MQS Management LLC, have recently initiated positions in Shoals Technologies Group, indicating growing interest among institutional investors.
• Shoals Technologies Group reported Q2 earnings of $0.10 per share, exceeding estimates, and had a year-over-year revenue increase of 11.7%, bringing in $110.84 million.

T. Rowe Price Investment Management Inc. bought a new stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,322,861 shares of the company's stock, valued at approximately $7,712,000. T. Rowe Price Investment Management Inc. owned 1.39% of Shoals Technologies Group as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of SHLS. MQS Management LLC acquired a new position in Shoals Technologies Group in the first quarter valued at $43,000. Cerity Partners LLC acquired a new position in Shoals Technologies Group in the first quarter valued at $43,000. Caitong International Asset Management Co. Ltd acquired a new position in Shoals Technologies Group in the first quarter valued at $44,000. Virtu Financial LLC acquired a new position in Shoals Technologies Group in the first quarter valued at $46,000. Finally, Pallas Capital Advisors LLC acquired a new position in Shoals Technologies Group in the first quarter valued at $64,000.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. BNP Paribas restated an "underperform" rating and issued a $4.00 target price (down previously from $4.50) on shares of Shoals Technologies Group in a report on Thursday, May 15th. 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 research note on Monday, July 14th. Guggenheim lifted their price target on shares of Shoals Technologies Group from $6.00 to $8.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. BNP Paribas Exane downgraded shares of Shoals Technologies Group from a "neutral" rating to an "underperform" rating and set a $4.00 price target for the company. in a research note on Thursday, May 15th. Finally, The Goldman Sachs Group lifted their price target on shares of Shoals Technologies Group from $5.00 to $6.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Fourteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $9.15.

Shoals Technologies Group Stock Down 5.0%

Shares of SHLS traded down $0.34 on Wednesday, reaching $6.50. The company's stock had a trading volume of 6,610,556 shares, compared to its average volume of 6,161,083. The company has a current ratio of 2.34, a quick ratio of 1.64 and a debt-to-equity ratio of 0.23. Shoals Technologies Group, Inc. has a twelve month low of $2.71 and a twelve month high of $7.13. The stock has a market capitalization of $1.09 billion, a PE ratio of 50.00, a PEG ratio of 0.84 and a beta of 1.61. The firm has a fifty day moving average of $5.49 and a 200-day moving average of $4.50.

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 company 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%.Shoals Technologies Group's quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.10 earnings per share. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities analysts predict that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

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.