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

A number of other institutional investors also recently modified their holdings of the company. Stratos Wealth Partners LTD. increased its stake in shares of Shoals Technologies Group by 17.2% during the first quarter. Stratos Wealth Partners LTD. now owns 23,313 shares of the company's stock valued at $77,000 after purchasing an additional 3,415 shares in the last quarter. Maven Securities LTD boosted its holdings in Shoals Technologies Group by 11.1% in the fourth quarter. Maven Securities LTD now owns 50,000 shares of the company's stock worth $276,000 after purchasing an additional 5,000 shares during the last quarter. Rhumbline Advisers boosted its holdings in Shoals Technologies Group by 2.5% in the first quarter. Rhumbline Advisers now owns 248,924 shares of the company's stock worth $826,000 after purchasing an additional 6,112 shares during the last quarter. Cidel Asset Management Inc. boosted its holdings in Shoals Technologies Group by 17.0% in the first quarter. Cidel Asset Management Inc. now owns 68,852 shares of the company's stock worth $229,000 after purchasing an additional 9,982 shares during the last quarter. Finally, State of Wyoming boosted its holdings in Shoals Technologies Group by 250.7% in the fourth quarter. State of Wyoming now owns 15,117 shares of the company's stock worth $84,000 after purchasing an additional 10,806 shares during the last quarter.

Shoals Technologies Group Stock Down 0.6%

Shares of SHLS traded down $0.04 during mid-day trading on Friday, hitting $6.88. The company's stock had a trading volume of 3,491,812 shares, compared to its average volume of 5,517,151. The company's 50-day moving average is $5.89 and its 200-day moving average is $4.72. Shoals Technologies Group, Inc. has a 52-week low of $2.71 and a 52-week high of $7.62. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 52.93, a PEG ratio of 0.85 and a beta of 1.63. 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 (NASDAQ:SHLS - Get Free Report) last posted 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. The firm had revenue of $110.84 million during the quarter, compared to analyst estimates of $104.87 million. Shoals Technologies Group had a net margin of 5.27% and a return on equity of 7.57%. Shoals Technologies Group's revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.10 EPS. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities research analysts forecast that Shoals Technologies Group, Inc. will post 0.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Barclays lifted their price target on shares of Shoals Technologies Group from $4.00 to $7.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. Roth Capital upgraded shares of Shoals Technologies Group from a "neutral" rating to a "buy" rating and set a $10.00 price target on the stock in a report on Thursday, August 7th. Mizuho downgraded shares of Shoals Technologies Group from an "outperform" rating to a "neutral" rating and set a $7.00 price target on the stock. in a report on Monday, July 14th. The Goldman Sachs Group boosted their target price on shares of Shoals Technologies Group from $7.00 to $8.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Wall Street Zen downgraded shares of Shoals Technologies Group from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 17th. 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. Based on data from MarketBeat.com, Shoals Technologies Group currently has an average rating of "Moderate Buy" and a consensus target price 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.