40,460 Shares in Shoals Technologies Group, Inc. $SHLS Acquired by Vident Advisory LLC

Key Points

• Vident Advisory LLC has acquired a new position in Shoals Technologies Group, purchasing 40,460 shares valued at approximately $134,000 in the first quarter.
• Shoals Technologies Group reported $0.10 earnings per share for the last quarter, exceeding analysts' expectations by $0.02 and achieving an 11.7% increase in revenue compared to the previous year.
• Several hedge funds have increased their stakes in Shoals Technologies Group, with the State of Wyoming growing its investment by 538.9% to own 96,575 shares.

Vident Advisory LLC purchased a new stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 40,460 shares of the company's stock, valued at approximately $134,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northern Trust Corp grew its holdings in shares of Shoals Technologies Group by 4.6% in the 4th quarter. Northern Trust Corp now owns 1,776,337 shares of the company's stock worth $9,823,000 after purchasing an additional 77,633 shares during the last quarter. Comerica Bank grew its stake in Shoals Technologies Group by 73.2% during the fourth quarter. Comerica Bank now owns 162,648 shares of the company's stock worth $899,000 after buying an additional 68,725 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Shoals Technologies Group during the fourth quarter worth approximately $238,000. Ameriprise Financial Inc. increased its holdings in shares of Shoals Technologies Group by 45.3% during the fourth quarter. Ameriprise Financial Inc. now owns 1,882,420 shares of the company's stock worth $10,410,000 after buying an additional 587,235 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in shares of Shoals Technologies Group in the 4th quarter worth approximately $3,107,000.

Shoals Technologies Group Trading Up 0.4%

Shares of SHLS stock traded up $0.03 on Tuesday, reaching $7.11. The company had a trading volume of 4,863,924 shares, compared to its average volume of 4,941,289. The company has a 50-day moving average of $5.94 and a 200-day moving average of $4.78. Shoals Technologies Group, Inc. has a 12 month low of $2.71 and a 12 month high of $7.62. The stock has a market cap of $1.19 billion, a PE ratio of 54.70, a PEG ratio of 0.87 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 issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.02. The firm had revenue of $110.84 million during the quarter, compared to analysts' expectations of $104.87 million. Shoals Technologies Group had a net margin of 5.27% and a return on equity of 7.57%. The business's revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.10 earnings per share. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts forecast that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SHLS. Barclays boosted their price objective on 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. The Goldman Sachs Group raised their price objective on shares of Shoals Technologies Group from $7.00 to $8.00 and gave the company a "buy" rating in a research report on Thursday, September 11th. UBS Group reduced their target price on shares of Shoals Technologies Group from $7.50 to $7.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Jefferies Financial Group upped 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. Finally, Roth Capital raised Shoals Technologies Group from a "neutral" rating to a "buy" rating and set a $10.00 target price for the company in a research note on Thursday, August 7th. Fourteen 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, Shoals Technologies Group has a consensus rating of "Moderate Buy" and an average target price of $9.33.

About Shoals Technologies Group

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.