Shoals Technologies Group, Inc. $SHLS Shares Sold by Sei Investments Co.

Sei Investments Co. trimmed its position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 33.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,715 shares of the company’s stock after selling 89,216 shares during the quarter. Sei Investments Co. owned approximately 0.10% of Shoals Technologies Group worth $1,156,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SHLS. Price T Rowe Associates Inc. MD boosted its holdings in Shoals Technologies Group by 151.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,753,784 shares of the company’s stock worth $108,410,000 after buying an additional 7,685,515 shares in the last quarter. First Trust Advisors LP increased its holdings in Shoals Technologies Group by 1,493.0% in the fourth quarter. First Trust Advisors LP now owns 6,331,682 shares of the company’s stock valued at $53,819,000 after buying an additional 5,934,223 shares in the last quarter. Castle Hook Partners LP purchased a new position in Shoals Technologies Group in the fourth quarter valued at $40,095,000. Amundi raised its position in shares of Shoals Technologies Group by 175.2% in the fourth quarter. Amundi now owns 5,776,766 shares of the company’s stock worth $49,075,000 after acquiring an additional 3,677,713 shares during the period. Finally, Peconic Partners LLC boosted its stake in shares of Shoals Technologies Group by 79.8% during the 2nd quarter. Peconic Partners LLC now owns 6,975,186 shares of the company’s stock worth $29,645,000 after acquiring an additional 3,095,186 shares in the last quarter.

Shoals Technologies Group Trading Up 2.0%

Shares of SHLS opened at $8.73 on Wednesday. Shoals Technologies Group, Inc. has a 52-week low of $4.43 and a 52-week high of $13.18. The company has a quick ratio of 1.12, a current ratio of 2.25 and a debt-to-equity ratio of 0.32. The firm’s fifty day moving average is $9.89 and its two-hundred day moving average is $8.83. The stock has a market cap of $1.46 billion, a PE ratio of 45.95, a price-to-earnings-growth ratio of 1.04 and a beta of 1.93.

Shoals Technologies Group (NASDAQ:SHLS) last issued its earnings results on Tuesday, August 4th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The business had revenue of $163.37 million during the quarter, compared to analysts’ expectations of $160.03 million. Shoals Technologies Group had a net margin of 5.41% and a return on equity of 10.07%. The company’s quarterly revenue was up 47.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 earnings per share. Research analysts forecast that Shoals Technologies Group, Inc. will post 0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SHLS shares. JPMorgan Chase & Co. raised their target price on Shoals Technologies Group from $9.00 to $10.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Guggenheim reaffirmed a “buy” rating on shares of Shoals Technologies Group in a report on Friday, May 22nd. Barclays increased their price target on Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Oppenheimer restated an “outperform” rating and issued a $13.00 price objective on shares of Shoals Technologies Group in a research report on Tuesday, August 4th. Finally, Wall Street Zen upgraded Shoals Technologies Group from a “hold” rating to a “buy” rating in a research report on Saturday. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Shoals Technologies Group currently has a consensus rating of “Moderate Buy” and an average target price of $10.71.

Insider Transactions at Shoals Technologies Group

In related news, insider Bobbie Lee King, Jr. sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $10.41, for a total transaction of $104,100.00. Following the completion of the sale, the insider owned 98,918 shares of the company’s stock, valued at approximately $1,029,736.38. This represents a 9.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.81% of the company’s stock.

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.