57,100 Shares in Shoals Technologies Group, Inc. $SHLS Purchased by LSV Asset Management

LSV Asset Management purchased a new stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 57,100 shares of the company’s stock, valued at approximately $423,000.

Other hedge funds have also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Shoals Technologies Group by 815.6% during the second quarter. Dynamic Technology Lab Private Ltd now owns 157,946 shares of the company’s stock worth $671,000 after buying an additional 140,696 shares in the last quarter. Ruffer LLP bought a new position in Shoals Technologies Group during the third quarter worth about $2,735,000. Financial Enhancement Group LLC bought a new position in Shoals Technologies Group during the third quarter worth about $832,000. American Century Companies Inc. raised its stake in Shoals Technologies Group by 128.3% in the 2nd quarter. American Century Companies Inc. now owns 2,754,266 shares of the company’s stock worth $11,706,000 after purchasing an additional 1,548,094 shares in the last quarter. Finally, Great Lakes Advisors LLC bought a new stake in Shoals Technologies Group in the 3rd quarter valued at about $1,546,000.

Analysts Set New Price Targets

Several brokerages have recently commented on SHLS. Zacks Research cut shares of Shoals Technologies Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Wells Fargo & Company raised their price objective on Shoals Technologies Group from $6.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 6th. Needham & Company LLC initiated coverage on Shoals Technologies Group in a research report on Wednesday, October 22nd. They set a “buy” rating and a $12.00 target price for the company. The Goldman Sachs Group reissued a “buy” rating on shares of Shoals Technologies Group in a report on Monday, February 9th. Finally, Guggenheim raised their price target on Shoals Technologies Group from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Ten analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.40.

Insiders Place Their Bets

In other news, CFO Dominic Bardos sold 4,170 shares of the stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $7.83, for a total value of $32,651.10. Following the completion of the transaction, the chief financial officer owned 412,289 shares of the company’s stock, valued at approximately $3,228,222.87. This represents a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is owned by company insiders.

Shoals Technologies Group Trading Up 4.5%

Shares of SHLS stock opened at $10.70 on Wednesday. Shoals Technologies Group, Inc. has a fifty-two week low of $2.71 and a fifty-two week high of $11.36. The stock’s fifty day moving average price is $9.33 and its two-hundred day moving average price is $8.35. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.53 and a current ratio of 2.19. The company has a market cap of $1.79 billion, a PE ratio of 53.50, a P/E/G ratio of 0.87 and a beta of 1.70.

Shoals Technologies Group Company Profile

Shoals Technologies Group, Inc is a leading provider of electrical balance-of-system (BOS) solutions for the solar energy industry. The company designs, engineers and manufactures a comprehensive portfolio of products, including junction boxes, combiner boxes, cable assemblies, power distribution units and monitoring systems. These components are critical to interconnecting photovoltaic modules, optimizing energy output and ensuring safe, reliable performance across solar installations.

Founded in 1996 and headquartered in Portland, Tennessee, Shoals has grown its manufacturing and operations footprint to serve customers around the globe.