Shoals Technologies Group, Inc. $SHLS Shares Acquired by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL increased its position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 83.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,025,812 shares of the company’s stock after purchasing an additional 465,968 shares during the period. Tudor Investment Corp ET AL owned approximately 0.61% of Shoals Technologies Group worth $7,601,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Ruffer LLP purchased a new position in shares of Shoals Technologies Group during the 3rd quarter worth approximately $2,735,000. Financial Enhancement Group LLC purchased a new stake in shares of Shoals Technologies Group in the third quarter valued at approximately $832,000. Erste Asset Management GmbH boosted its stake in shares of Shoals Technologies Group by 44.1% in the third quarter. Erste Asset Management GmbH now owns 4,516,372 shares of the company’s stock valued at $33,873,000 after buying an additional 1,382,999 shares in the last quarter. Mercuria Capital Strategies LLC acquired a new position in Shoals Technologies Group during the third quarter worth $2,223,000. Finally, Great Lakes Advisors LLC acquired a new position in Shoals Technologies Group during the third quarter worth $1,546,000.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SHLS shares. Barclays reduced their target price on Shoals Technologies Group from $10.00 to $9.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. Citigroup cut their price target on shares of Shoals Technologies Group from $11.00 to $8.50 and set a “neutral” rating for the company in a report on Thursday, February 26th. Morgan Stanley reduced their price objective 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. Jefferies Financial Group decreased their price objective on shares of Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Shoals Technologies Group in a research report on Friday, January 9th. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $9.57.

Shoals Technologies Group Trading Up 2.3%

Shares of SHLS opened at $6.24 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.03 and a quick ratio of 1.32. Shoals Technologies Group, Inc. has a 1-year low of $2.92 and a 1-year high of $11.36. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 31.20, a price-to-earnings-growth ratio of 0.84 and a beta of 1.77. The firm has a 50 day simple moving average of $8.34 and a 200-day simple moving average of $8.53.

Shoals Technologies Group (NASDAQ:SHLS) last posted its earnings results on Tuesday, February 24th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The company had revenue of $148.33 million during the quarter, compared to analysts’ expectations of $144.52 million. Shoals Technologies Group had a net margin of 7.06% and a return on equity of 9.10%. Shoals Technologies Group’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 EPS. Equities analysts forecast that Shoals Technologies Group, Inc. will post 0.29 EPS for the current fiscal year.

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.