UniSuper Management Pty Ltd Sells 477,531 Shares of Shoals Technologies Group, Inc. $SHLS

Key Points

• UniSuper Management Pty Ltd reduced its stake in Shoals Technologies Group by 44.9%, selling 477,531 shares and now owning 0.35% of the company valued at approximately $1.95 million.
• Several institutional investors, including Wellington Management Group, have increased their stakes in Shoals Technologies Group, with Wellington acquiring over 7.3 million additional shares.
• Analysts have varied ratings on the stock, with Mizuho downgrading it to "neutral" at a $7.00 price target, while Jefferies raised their target to $9.00, reflecting overall mixed sentiment.

UniSuper Management Pty Ltd cut its stake in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 44.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 585,775 shares of the company's stock after selling 477,531 shares during the quarter. UniSuper Management Pty Ltd owned 0.35% of Shoals Technologies Group worth $1,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Electron Capital Partners LLC boosted its holdings in Shoals Technologies Group by 20.3% during the 1st quarter. Electron Capital Partners LLC now owns 108,838 shares of the company's stock valued at $361,000 after acquiring an additional 18,378 shares during the period. AQR Capital Management LLC boosted its holdings in Shoals Technologies Group by 184.7% during the 1st quarter. AQR Capital Management LLC now owns 922,358 shares of the company's stock valued at $2,975,000 after acquiring an additional 598,407 shares during the period. Ardsley Advisory Partners LP purchased a new stake in Shoals Technologies Group during the 1st quarter valued at about $1,162,000. Cubist Systematic Strategies LLC lifted its holdings in Shoals Technologies Group by 1,741.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 568,862 shares of the company's stock worth $1,889,000 after buying an additional 537,962 shares during the period. Finally, Royal Bank of Canada lifted its holdings in Shoals Technologies Group by 292.5% in the 1st quarter. Royal Bank of Canada now owns 106,531 shares of the company's stock worth $353,000 after buying an additional 79,392 shares during the period.

Shoals Technologies Group Stock Up 0.4%

Shares of NASDAQ:SHLS traded up $0.03 during trading on Tuesday, hitting $7.11. The stock had a trading volume of 4,863,924 shares, compared to its average volume of 4,941,289. Shoals Technologies Group, Inc. has a 12 month low of $2.71 and a 12 month high of $7.62. The company has a market capitalization of $1.19 billion, a PE ratio of 54.70, a PEG ratio of 0.87 and a beta of 1.63. The firm's fifty day moving average is $5.94 and its 200 day moving average is $4.78. The company has a quick ratio of 1.64, a current ratio of 2.34 and a debt-to-equity ratio of 0.23.

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, 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 firm had revenue of $110.84 million during the quarter, compared to analyst estimates of $104.87 million. During the same quarter in the prior year, the company earned $0.10 EPS. The business's revenue was up 11.7% compared to the same quarter last year. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Analysts anticipate that Shoals Technologies Group, Inc. will post 0.29 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SHLS shares. Roth Capital upgraded Shoals Technologies Group from a "neutral" rating to a "buy" rating and set a $10.00 price objective for the company in a report on Thursday, August 7th. Jefferies Financial Group increased their price objective on Shoals Technologies Group from $6.00 to $9.00 and gave the stock a "buy" rating in a report on Monday, September 8th. UBS Group dropped their price objective on Shoals Technologies Group from $7.50 to $7.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Mizuho cut Shoals Technologies Group from an "outperform" rating to a "neutral" rating and set a $7.00 price objective for the company. in a report on Monday, July 14th. Finally, Barclays increased their price objective on Shoals Technologies Group from $4.00 to $7.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Fourteen 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.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $9.33.

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.