T. Rowe Price Investment Management Inc. Acquires New Position 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. acquired a new stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 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 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Goodlander Investment Management LLC bought a new position in Shoals Technologies Group during the fourth quarter valued at about $8,295,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Shoals Technologies Group during the 1st quarter valued at approximately $65,000. Janney Montgomery Scott LLC increased its stake in shares of Shoals Technologies Group by 187.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 269,096 shares of the company's stock worth $893,000 after purchasing an additional 175,627 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in shares of Shoals Technologies Group by 189.1% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 123,695 shares of the company's stock worth $684,000 after purchasing an additional 80,911 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in Shoals Technologies Group by 45.3% in the fourth quarter. Ameriprise Financial Inc. now owns 1,882,420 shares of the company's stock valued at $10,410,000 after purchasing an additional 587,235 shares during the last quarter.

Shoals Technologies Group Price Performance

Shares of NASDAQ:SHLS traded down $0.08 on Friday, hitting $6.51. The company's stock had a trading volume of 2,362,505 shares, compared to its average volume of 6,245,064. The company has a market capitalization of $1.09 billion, a PE ratio of 50.08, a PEG ratio of 0.80 and a beta of 1.61. 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 50-day simple moving average of $5.54 and a 200 day simple moving average of $4.54. Shoals Technologies Group, Inc. has a 1 year low of $2.71 and a 1 year high of $7.13.

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, topping 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 during the quarter, compared to analyst estimates of $104.87 million. During the same quarter in the previous year, the firm earned $0.10 earnings per share. Shoals Technologies Group's revenue 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. Sell-side analysts forecast that Shoals Technologies Group, Inc. will post 0.29 EPS for the current fiscal year.

Analysts Set New Price Targets

SHLS has been the topic of a number of recent research reports. Guggenheim upped their price target on Shoals Technologies Group from $6.00 to $8.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. UBS Group reduced their target price on shares of Shoals Technologies Group from $7.50 to $7.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Citigroup upped their price target on shares of Shoals Technologies Group from $4.50 to $5.50 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. BNP Paribas Exane cut shares of Shoals Technologies Group from a "neutral" rating to an "underperform" rating and set a $4.00 target price on the stock. in a report on Thursday, May 15th. Finally, Wall Street Zen lowered Shoals Technologies Group from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 17th. Fourteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently 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.