Trexquant Investment LP Sells 1,029,689 Shares of Shoals Technologies Group, Inc. $SHLS

Key Points

• Trexquant Investment LP reduced its stake in Shoals Technologies Group, selling 1,029,689 shares and now holds 970,862 shares, representing a 51.5% decrease in ownership.
• Shoals Technologies Group reported $110.84 million in revenue for the last quarter, exceeding analyst estimates of $104.87 million, with earnings per share of $0.10.
• Analysts' ratings for Shoals Technologies Group vary, with the consensus being a Moderate Buy and an average target price of $9.15, while some firms have downgraded their estimates.

Trexquant Investment LP reduced its holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 51.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 970,862 shares of the company's stock after selling 1,029,689 shares during the period. Trexquant Investment LP owned approximately 0.58% of Shoals Technologies Group worth $3,223,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Goodlander Investment Management LLC acquired a new position in Shoals Technologies Group in the fourth quarter valued at approximately $8,295,000. Wealth Enhancement Advisory Services LLC acquired a new position in Shoals Technologies Group in the first quarter valued at approximately $65,000. Janney Montgomery Scott LLC lifted its holdings in Shoals Technologies Group by 187.9% in the first quarter. Janney Montgomery Scott LLC now owns 269,096 shares of the company's stock valued at $893,000 after buying an additional 175,627 shares during the period. Schonfeld Strategic Advisors LLC lifted its holdings in Shoals Technologies Group by 189.1% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 123,695 shares of the company's stock valued at $684,000 after buying an additional 80,911 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings 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 buying an additional 587,235 shares during the period.

Analysts Set New Price Targets

SHLS has been the topic of several analyst reports. BNP Paribas Exane lowered 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. Mizuho lowered shares of Shoals Technologies Group from an "outperform" rating to a "neutral" rating and set a $7.00 target price on the stock. in a report on Monday, July 14th. Roth Capital upgraded shares of Shoals Technologies Group from a "neutral" rating to a "buy" rating and set a $10.00 target price on the stock in a report on Thursday, August 7th. Jefferies Financial Group upgraded shares of Shoals Technologies Group from a "hold" rating to a "buy" rating and increased their target price for the stock from $4.90 to $7.20 in a report on Monday, July 7th. Finally, Wall Street Zen lowered shares of 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 issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $9.15.

Shoals Technologies Group Stock Up 0.1%

SHLS stock traded up $0.01 during midday trading on Friday, hitting $7.16. The company's stock had a trading volume of 9,111,421 shares, compared to its average volume of 5,721,983. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.34 and a quick ratio of 1.64. Shoals Technologies Group, Inc. has a twelve month low of $2.71 and a twelve month high of $7.62. The company's fifty day moving average price is $5.74 and its 200 day moving average price is $4.63. The stock has a market capitalization of $1.20 billion, a P/E ratio of 55.08, a PEG ratio of 0.88 and a beta of 1.63.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $110.84 million during the quarter, compared to the consensus estimate of $104.87 million. During the same quarter last year, the firm posted $0.10 EPS. The company's quarterly 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. As a group, equities research 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.