Wellington Management Group LLP Grows Stake in Shoals Technologies Group, Inc. $SHLS

Key Points

• Wellington Management Group LLP increased its stake in Shoals Technologies Group by 51.9%, now owning 21,615,890 shares valued at approximately $71.77 million.
• Shoals Technologies Group reported a quarterly earnings per share of $0.10, beating estimates of $0.08, along with revenue of $110.84 million, surpassing analyst expectations.
• Analysts have a generally positive outlook for Shoals Technologies Group, with 14 rating the stock as a "Buy" and a target price averaging $9.15.

Wellington Management Group LLP raised its stake in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 51.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 21,615,890 shares of the company's stock after purchasing an additional 7,382,548 shares during the period. Wellington Management Group LLP owned 12.94% of Shoals Technologies Group worth $71,765,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of SHLS. MQS Management LLC bought a new stake in Shoals Technologies Group during the first quarter valued at about $43,000. Cerity Partners LLC bought a new position in shares of Shoals Technologies Group in the first quarter worth about $43,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Shoals Technologies Group in the first quarter worth about $44,000. Virtu Financial LLC bought a new position in shares of Shoals Technologies Group in the first quarter worth about $46,000. Finally, Pallas Capital Advisors LLC bought a new position in shares of Shoals Technologies Group in the first quarter worth about $64,000.

Shoals Technologies Group Trading Up 2.8%

SHLS stock traded up $0.19 during midday trading on Thursday, reaching $6.69. 413,819 shares of the company traded hands, compared to its average volume of 6,343,198. Shoals Technologies Group, Inc. has a 52-week low of $2.71 and a 52-week high of $7.13. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.64 and a current ratio of 2.34. The business has a 50 day moving average of $5.49 and a 200-day moving average of $4.50. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 51.50, a P/E/G ratio of 0.84 and a beta of 1.61.

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. Shoals Technologies Group had a return on equity of 7.57% and a net margin of 5.27%.The business had revenue of $110.84 million for the quarter, compared to the consensus estimate of $104.87 million. During the same period in the prior year, the business posted $0.10 earnings per share. The company's quarterly 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. As a group, sell-side analysts expect that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SHLS shares. The Goldman Sachs Group upped their price objective on Shoals Technologies Group from $5.00 to $6.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. BNP Paribas reaffirmed an "underperform" rating and issued a $4.00 price objective (down previously from $4.50) on shares of Shoals Technologies Group in a research note on Thursday, May 15th. Guggenheim upped their price objective on Shoals Technologies Group from $6.00 to $8.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Citigroup upped their price objective on Shoals Technologies Group from $4.50 to $5.50 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Finally, Jefferies Financial Group raised Shoals Technologies Group from a "hold" rating to a "buy" rating and upped their price objective for the stock from $4.90 to $7.20 in a research note on Monday, July 7th. Fourteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.