Hel Ved Capital Management Ltd Buys New Shares in Shoals Technologies Group, Inc. $SHLS

Hel Ved Capital Management Ltd bought a new stake in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 807,050 shares of the company’s stock, valued at approximately $6,860,000. Shoals Technologies Group accounts for approximately 1.8% of Hel Ved Capital Management Ltd’s portfolio, making the stock its 15th largest holding. Hel Ved Capital Management Ltd owned 0.48% of Shoals Technologies Group at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of SHLS. GAMMA Investing LLC raised its holdings in Shoals Technologies Group by 57.7% during the fourth quarter. GAMMA Investing LLC now owns 3,756 shares of the company’s stock worth $32,000 after buying an additional 1,375 shares during the last quarter. USA Financial Formulas acquired a new position in Shoals Technologies Group during the fourth quarter worth $49,000. Dynamic Technology Lab Private Ltd acquired a new position in Shoals Technologies Group during the first quarter worth $57,000. Tower Research Capital LLC TRC raised its holdings in Shoals Technologies Group by 468.3% during the second quarter. Tower Research Capital LLC TRC now owns 15,519 shares of the company’s stock worth $66,000 after buying an additional 12,788 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new position in Shoals Technologies Group during the fourth quarter worth $85,000.

Insider Transactions at Shoals Technologies Group

In related news, CFO Dominic Bardos sold 54,449 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $8.48, for a total transaction of $461,727.52. Following the completion of the sale, the chief financial officer owned 394,979 shares in the company, valued at approximately $3,349,421.92. This trade represents a 12.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.81% of the company’s stock.

Shoals Technologies Group Stock Performance

Shares of SHLS stock opened at $10.43 on Friday. The firm has a 50-day moving average of $8.93 and a 200-day moving average of $8.53. The company has a market cap of $1.75 billion, a P/E ratio of 52.15, a P/E/G ratio of 1.20 and a beta of 1.90. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.84 and a quick ratio of 1.07. Shoals Technologies Group, Inc. has a one year low of $3.99 and a one year high of $13.18.

Shoals Technologies Group (NASDAQ:SHLS) last announced its earnings results on Tuesday, May 5th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. The company had revenue of $140.56 million during the quarter, compared to the consensus estimate of $129.16 million. Shoals Technologies Group had a net margin of 6.27% and a return on equity of 10.03%. The company’s quarterly revenue was up 74.4% on a year-over-year basis. Equities research analysts forecast that Shoals Technologies Group, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SHLS shares. Morgan Stanley lowered their price objective on shares of Shoals Technologies Group from $9.50 to $8.50 and set an “equal weight” rating on the stock in a report on Wednesday, February 25th. Barclays lowered their price objective on shares of Shoals Technologies Group from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Weiss Ratings upgraded shares of Shoals Technologies Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. UBS Group upped their price objective on shares of Shoals Technologies Group from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $12.00 target price on shares of Shoals Technologies Group in a report on Wednesday, May 6th. Ten analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.71.

About Shoals Technologies Group

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.