Jupiter Asset Management Ltd. Takes $9.82 Million Position in Shoals Technologies Group, Inc. $SHLS

Jupiter Asset Management Ltd. purchased a new stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,155,127 shares of the company’s stock, valued at approximately $9,819,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC raised its stake 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. USA Financial Formulas purchased a new stake in shares of Shoals Technologies Group in the 4th quarter valued at approximately $49,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Shoals Technologies Group in the 1st quarter valued at approximately $57,000. Tower Research Capital LLC TRC raised its stake in shares of Shoals Technologies Group by 468.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 15,519 shares of the company’s stock valued at $66,000 after acquiring an additional 12,788 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Shoals Technologies Group by 13.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 20,200 shares of the company’s stock valued at $86,000 after buying an additional 2,316 shares during the period.

Insider Transactions at Shoals Technologies Group

In other Shoals Technologies Group news, CFO Dominic Bardos sold 54,449 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $8.48, for a total transaction of $461,727.52. Following the transaction, the chief financial officer directly owned 394,979 shares of the company’s stock, valued at approximately $3,349,421.92. This trade represents a 12.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.81% of the company’s stock.

Shoals Technologies Group Trading Up 2.0%

NASDAQ:SHLS opened at $12.45 on Friday. The stock’s 50 day moving average price is $8.02 and its 200 day moving average price is $8.34. The company has a market capitalization of $2.08 billion, a PE ratio of 62.25, a P/E/G ratio of 1.48 and a beta of 1.74. The company has a quick ratio of 1.07, a current ratio of 1.84 and a debt-to-equity ratio of 0.30. Shoals Technologies Group, Inc. has a 52-week low of $3.99 and a 52-week high of $13.18.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. Shoals Technologies Group had a return on equity of 10.03% and a net margin of 6.27%.The firm had revenue of $140.56 million for the quarter, compared to the consensus estimate of $129.16 million. The company’s quarterly revenue was up 74.4% compared to the same quarter last year. On average, research analysts anticipate that Shoals Technologies Group, Inc. will post 0.34 EPS for the current year.

Analysts Set New Price Targets

SHLS has been the topic of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $12.00 price objective on shares of Shoals Technologies Group in a report on Wednesday, May 6th. Morgan Stanley cut their price objective on 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. TD Cowen reiterated a “buy” rating on shares of Shoals Technologies Group in a report on Tuesday, February 24th. Royal Bank Of Canada cut their price objective on Shoals Technologies Group from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Finally, Guggenheim reiterated a “buy” rating on shares of Shoals Technologies Group in a report on Friday, May 22nd. Ten analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $9.64.

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.