SG Americas Securities LLC Buys 637,364 Shares of Shoals Technologies Group, Inc. $SHLS

SG Americas Securities LLC boosted its stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 668.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 732,648 shares of the company’s stock after purchasing an additional 637,364 shares during the quarter. SG Americas Securities LLC owned about 0.44% of Shoals Technologies Group worth $6,228,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SHLS. Assenagon Asset Management S.A. boosted its holdings in Shoals Technologies Group by 148.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 414,545 shares of the company’s stock worth $3,524,000 after buying an additional 247,721 shares during the last quarter. Union Bancaire Privee UBP SA increased its stake in shares of Shoals Technologies Group by 236.1% in the 4th quarter. Union Bancaire Privee UBP SA now owns 85,640 shares of the company’s stock valued at $662,000 after acquiring an additional 60,158 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Shoals Technologies Group by 57.7% in the 4th quarter. GAMMA Investing LLC now owns 3,756 shares of the company’s stock valued at $32,000 after acquiring an additional 1,375 shares during the period. Tudor Investment Corp ET AL boosted its stake in Shoals Technologies Group by 83.2% during the 3rd quarter. Tudor Investment Corp ET AL now owns 1,025,812 shares of the company’s stock worth $7,601,000 after acquiring an additional 465,968 shares during the last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in Shoals Technologies Group during the 3rd quarter worth approximately $133,000.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Morgan Stanley lowered their target price on shares of Shoals Technologies Group from $9.50 to $8.50 and set an “equal weight” rating for the company in a research note on Wednesday, February 25th. Wells Fargo & Company reduced their price target on shares of Shoals Technologies Group from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 25th. BNP Paribas Exane raised shares of Shoals Technologies Group from an “underperform” rating to a “neutral” rating and set a $9.00 price target for the company in a report on Wednesday, February 25th. Royal Bank Of Canada lowered their price objective on shares of Shoals Technologies Group from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Finally, Jefferies Financial Group reduced their target price on Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.57.

Shoals Technologies Group Stock Up 5.3%

NASDAQ:SHLS opened at $6.58 on Wednesday. The stock has a 50-day simple moving average of $8.02 and a 200 day simple moving average of $8.52. Shoals Technologies Group, Inc. has a 52-week low of $2.92 and a 52-week high of $11.36. The company has a market cap of $1.10 billion, a PE ratio of 32.90, a PEG ratio of 0.86 and a beta of 1.77. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.32 and a current ratio of 2.03.

Shoals Technologies Group (NASDAQ:SHLS) last released its earnings results on Tuesday, February 24th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). Shoals Technologies Group had a net margin of 7.06% and a return on equity of 9.10%. The firm had revenue of $148.33 million during the quarter, compared to the consensus estimate of $144.52 million. The company’s revenue was up 38.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.08 EPS. On average, sell-side analysts expect that Shoals Technologies Group, Inc. will post 0.29 EPS for the current fiscal year.

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.